"Bonus downgrades" are coming.
"This hasn't been officially communicated yet but is known to the higher-ups: bonuses for 2010 will be "less than 2009" (and it wasn't like 2009 involved anything to write home about). Plus - layoffs expected early next year. No concrete numbers on the cuts yet. But the bonus downgrade is assured. And don't forget - your modest bonus will not get paid until June. The question of the day is: will they do what they did last year (half paid 6 months after year end, the other half a year after that), or give you the whole shebang in June?"