Although their bonuses will probably still be good. Plus they all great raises during merit increase time, so I guess it just levels them back temporarily.
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What departments or regions affected
Yeah, when they get reduced from $500k to $450k base, but still get millions in bonus and equity (which will be huge when they go public again), it won’t really dent their big bank accounts.
What groups were hit?
What departments were let go
People were let go today. I guess that 10% cut wasn’t enough. Made you think they were caring taking a pay cut instead of letting people go then this happens today.
Insignificant amount as 90% of their compensation is bonus. Looks good on paper and to investment world. Obviously there is financial trouble on the horizon as historical data is now worthless
Soon most of DnB will be taking 100% pay cut.