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Felicia Tan
in
Stocks
June 24 21:40

Wall Street can cut management bonuses by 15-20%

Wall Street is likely to cut its bonuses by 15-20% this year. Another step designed to cut costs will be significant layoffs, quotes Reuters quotes consulting company Johnson Associates Inc.
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This decision is driven by the need to make quick decisions in the face of a crisis during a pandemic where fewer people are needed to do a job.
For those employees who continue to work, bonuses will be awarded on a control basis. This will particularly affect the management of private and public companies. The performance of investment companies and banks, competitive and public priorities, including the Black Lives Matter movement, and client and employee expectations will be taken into account.
Particular attention in terms of equity will be paid to the financial side of the issue, not in words but in deeds, in particular the ratio between CEO and employee salaries, which is published annually by banks, as social justice and equity advocates focus on numbers.