The Fly

Wall Street banks consider bonus cuts up to 30%, Bloomberg reports

JPMorgan Chase (JPM), Bank of America (BAC) and Citigroup (C) are all mulling plans to reduce bonus pools for their investment bankers by up to 30%, Bloomberg’s Jennifer Surane, Hannah Levitt and Katherine Doherty report, citing people with knowledge of the deliberations. The moves come amid a slowdown in dealmaking halting the industry’s battle for talent and some firms are expecting to give low performers no reward at all. Reference Link

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