Goldman Sachs cuts bonuses…

Goldman Sachs cuts bonuses…

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Goldman Sachs’ bonus pool for senior employees is expected to shrink by as much as half, people familiar with the matter said, as CEO David Solomon tries to boost flagging shareholder returns in a tough year across Wall Street. A smaller bonus pool for its 400-odd partners isn’t surprising, at least directionally speaking. Last year was a huge year for high finance, and compensation reflected that, while 2022 has been a rough one. But Goldman’s revenue, which tends to be a proxy for pay, is only down 20% over the first nine months of the year, so the expected cuts...
Source: https://www.semafor.com/article/12/08/2022/wall-street-boom-ends-as-goldman-cuts-bonuses