Quick rule of thumb: If you're going to deal away last year's bonuses in order to pay out a legal settlement for something that happened before most of your current employees got there, be up front about it. Or at least don't cut a quiet deal with the C-Suites to make them whole while letting the rank-and-file fume, and then start telling everyone that everything is going back to normal like they're idiots.
Deutsche Bank knows what we're talking about.
From the front lines:
Rumour that near 70% of MDs: (a) got significant retentions, (b) are exempt from zero bonuses or (c) are on guarantees. Same rumour is that 20% of Ds got a retention of approximately 1-2 months of salary as a "retention" (which will pay out in 2023) and no notable guarantees or exemptions. Senior MD (himself on a multi year guarantee) in Europe actually stated - twice - in a town hall this week that DB "will pay market" next year - insane thing to say unless of course he is able to cash in on his guarantee by then! Trust is irrevocably destroyed between employees and senior managers.