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Mr. Harrison was the latest Wall Street chief executive to have his compensation cut as profit in the industry fell by more than half in 2001.
ANDREW POLLACK COMPENSATION CUT Royal Bank of Scotland announced on Thursday that it would pay its chief executive, Stephen Hester, below, an all-stock bonus of £963,000, or $1.5 million, less than half what he received last year.
However, fixed-income and equity traders will not fare quite as well, he said, predicting the difficult trading environment recently could result in a 40 percent compensation cut for some employees.
Companies that auction assets also will see their tax deductions for executive compensation cut in half to $500,000, while executives receiving golden parachutes under existing contracts may face a 20percentt surtax on the payments.
But that is cold comfort for the tens of millions of working men and women for whom conditions are bleak and getting bleaker, and for the millions more who are destined to lose their jobs — or to have their hours and compensation cut — in the months and years to come.
Victims of Child Sexual Abuse Are Having Their Compensation Cut for Committing Crimes.
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Compensation to zero deviation needs a deeper understanding; hence disturbances during the compensation cuts are investigated within this paper.
After weeks of tension, meetings and threats, union members have narrowly rejected a proposed package of wage and compensation cuts.
The union says that in addition to upfront compensation cuts, the company also wants the right to cut wages during periods of reduced operation.
BOSTON — After weeks of labor tension and 12 hours of suspenseful voting, members of the Newspaper Guild at The Boston Globe narrowly rejected a proposed package of wage and compensation cuts.
In January, researchers at the Center for Retirement Research at Boston College looked at teacher compensation to figure out how compensation cuts for new hires might impact teachers' decisions about where to teach.
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