Break Out the Grecian FormulaBy
“We’re very cognizant of the returns our shareholders get vs. what our employees get. Compensation will probably be the primary target for additional cost reductions. The bank will add junior employees and will try to strike a balance to avoid losing talent.”
—David Viniar, chief financial officer, Goldman Sachs Group, “Goldman Sachs Cuts Pay as Revenue Drops to Lowest Since 2005, Bloomberg News, Michael J. Moore and Christine Harper, 17 July 2012, 11:53 AM ET
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