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Bonus Watch '11: Credit Suisse Has An Arithmetic Problem For Employees

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What's zero divided by four?

Just kidding of course (though in same cases not kidding at all). As previously mentioned, Credit Suisse has jumped on the tantra bandwagon and decided that 2010 bonuses will be paid out through 2014 (bonuses above $50,000 are subject to deferral, no matter the recipient's title at the bank). Here's what employees have to work with:

The bank trimmed compensation by 2.4%, to 14.5 billion Swiss francs from 14.9 billion Swiss francs in 2009. The cuts were deepest in the bank's bonus pool, which decreased by one-quarter in 2010 to 5.14 billion Swiss francs ($5.3 billion) compared with 6.85 billion Swiss francs in 2009. Average pay per employee was 297,944 Swiss francs ($306,611), down from 313,592 Swiss francs in 2009.

Credit Suisse Decreases Pay And Bonuses [FINS]


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