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City bonuses to be cut 40% next year



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BONUSES in the city could be slashed by 40 per cent, the Centre for Economics and Business Research has warned.
Research by the centre revealed that the total 2009 bonus pay-out in the City is expected to drop to £5.1 billion.

The report's authors say bonuses will be restructured and scaled back over the coming years with payments recovering only to £5.5bn in 2009 and will not regain their previous highs until 2011, when they could top £9bn. The CEBR's biannual report drew on the centre's research and its economic models.





The full article contains 102 words and appears in The Scotsman newspaper.
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  • Last Updated: 08 May 2008 9:20 PM
  • Source: The Scotsman
  • Location: Edinburgh
 
 

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