Merrill Said to Cut Year-End Bonuses by 50%
According to Bloomberg: “The average bonus reduction will be about 50 percent at the New York-based company, and some traders and investment bankers will face steeper cuts, said the people, who declined to be identified because the plans aren’t public.”
“In 2007, Merrill paid out a total of $15.9 billion in compensation, or about $248,000 per employee.“
