| Morgan Stanley chief warns on Wall St pay |
|
Morgan Stanley is preparing to wield its axe again with more job cuts
and smaller bonuses planned for next year as the investment bank
attempts to boost shareholder returns. In the latest sign of the pressure Wall Street is under to cut costs and address high pay levels, James Gorman, chief executive, said that staff and remuneration would have to be sacrificed as banks cope with lower profits. http://link.ft.com/r/P75VYY/ |
Reflections from news and commentary of the day
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