http://www.cbsnews.com/blogs/2009/06/24/business/econwatch/entry5108954.shtml
Quote:
Citigroup is overhauling its compensation plan – increasing base salaries and reducing bonuses – as they try to balance retaining top performers and placating Washington politicians, according to a Financial Times report.
Under the plan, which has been in the works for several months, top bankers would get their annual salaries bumped by up to 50 percent.
The banking giant will also introduce a new stock option program, giving employees a share of common stock for every restricted share they hold – the ultimate goal being to give workers incentive to stay at the company longer.
Trying to prevent brain drain, probably to foreign companies.
Quote:
Citigroup is overhauling its compensation plan – increasing base salaries and reducing bonuses – as they try to balance retaining top performers and placating Washington politicians, according to a Financial Times report.
Under the plan, which has been in the works for several months, top bankers would get their annual salaries bumped by up to 50 percent.
The banking giant will also introduce a new stock option program, giving employees a share of common stock for every restricted share they hold – the ultimate goal being to give workers incentive to stay at the company longer.
Trying to prevent brain drain, probably to foreign companies.