Firms to pay year-end bonuses despite losses, bankruptcies

10/28/2008 | Bloomberg

The worst financial crisis since the Great Depression, a $700 billion bailout, public outcry over excessive pay and the demise of three of the biggest securities firms will not deter Wall Street from offering year-end rewards to employees, compensation experts said. Even some employees at Lehman Brothers will receive the same bonus they got a year ago. Five straight quarters of losses and a 70% slide in its stock price this year did not stop Merrill Lynch from allocating about $6.7 billion for bonuses.

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