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Monday, August 12, 2002

Trouble at Goldman Sachs

by: Tony Pennino

Employees and managers at Goldman Sachs are facing some tough times ahead. The investment bank has decided that managing directors will be getting no bonuses this year, only their base salary, according to The New York Post. Bonuses can represent up to 80 percent of an executive's take-home every year. But that is not the worst news. The paper also reports that the firm is considering another round of lay-offs; those lay-offs will be targeted at higher level executives. 

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