LayoffBlog.com

December 2, 2008

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.

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