Bonuses - 'Sharply lower'...'Again'. Not words you wanna hear together if you work there.
Credit Suisse Chairman Urs Rohner has apparently told Swiss newspaper Handelszeitung that his firm's 'bonus pool will be sharply lower again this year'. His interview is due to appear in tomorrow's edition.
Reuters reports that Credit Suisse reduced its overall bonus pot from US$7.24bn to $5.4bn last year, and it looks like it's going even lower this year-end.
In the meantime, at least someone seems to have something to celebrate. The Daily Mail reports that a hedge fund guy and 9 staff spent an incredible $109,621 (including $15,444 tip for the waitress - in addition to the 15% service charge) on their Christmas party at London's fashionable Rose Club in the West End one evening last week.
According to the newspaper, 'at one point he (the hedge fund boss) threw £50 notes in the air like confetti and watched as 'pretty girls' scrambled on the floor to pick up as many as they could'. How nouveau riche.