Thursday, November 06, 2008
Bonus reductions
Projected bonus cuts on Wall Street here. About time those millions were cut (in my view) and redistributed. Of course, some of this might be companies posturing to the market in the hope of driving up stock prices. The same strategy employed when companies announce layoffs... Has anyone gone back a year later to some of these companies that garner headlines when they project layoffs and asked them exactly how much they laid off or exactly how much they cut bonuses? No. I am sure not. Yes, posturing for the markets is an important aspect of this exercise...
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