Look at those poor suffering investment bankers!
Britain’s third-biggest bank said up to 9 percent of employees could go, including 7,000 in Britain, as it tries to lower costs. The cuts are not concentrated in any one business area.
It said it paid 2.4 billion pounds ($3.9 billion) in incentive awards last year, raising bonuses at the investment bank by 13 percent despite a slump in its profits. The average bonus for the investment bank’s 26,200 staff was 60,100 pounds.
Productivity of our richest employees down…only one solution — fire the more productive other employees and pay the rich people more.