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Executive Investigator
Tracking and Analyzing Executive Salaries, Bonuses, and Perks
# Thursday, October 25, 2007
Merrill Lynch announced that it cut worker compensation in half in the third quarter, which means big bonuses could suffer this year. The investment firm spent $1.99 billion on compensation during the July-September period compared to $3.94 billion during the same quarter last year and $4.76 billion during the second quarter of this year.

'Merrill Lynch remains focused on paying its best performing employees competitively,' the company said in a statement. 'In the same vein, it may be necessary to accrue compensation expense at a higher level in the fourth quarter to ensure it can appropriately reward employees whose performance will drive future growth.'

Thursday, October 25, 2007 7:03:43 PM UTC  #    Comments [0]  |  Trackback