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Wall Street Weighs Pay Freeze on Junior Bankers

Jeffrey McCracken and Christine Harper Bloomberg.com 01/09/2012

Wall Street’s biggest firms, facing a slump in investment-banking revenue, are considering freezing compensation levels for some junior bankers, according to people familiar with the deliberations.

Detroit Holds Ex-Cons-Only Jobs Fair Greg Wilson NBC Chicago 10/14/2011	Employer Refuses To Hire Smokers, Cites Rising Care Costs CBS DFW 09/25/2011
The city of Detroit has high unemployment, and no one has a tougher time finding work than an ex-con.	Currently there are some 14 million jobless Americans. And if you’re one of the thousands of North Texans looking for work, the competition is tough. Now, a new hiring limitation by one employer could make the job search even harder.
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Disney factory in China faces probe into sweatshop suicide claims Gethin Chamberlain The Guardian 08/28/2011	Payrolls Climb in 31 States, Led by New York, Texas; Nevada Is at Bottom Alex Kowalski Bloomberg.com 08/19/2011
Disney's best-selling Cars toys are being made in a factory in China that uses child labour and forces staff to do three times the amount of overtime allowed by law, according to an investigation.	Payrolls climbed in 31 U.S. states in July, led by New York and Texas, while the jobless rate increased in 28, painting a mixed employment picture the month before global stock markets slumped.
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UBS Shifts Some Employees to New York BRETT PHILBIN The Wall Street Journal 07/12/2011	Pay Frozen, More New York Judges Leave Bench WILLIAM GLABERSON The New York Times 07/04/2011
UBS AG moved 50 members of its equities team to one of its New York City offices from Stamford, Conn., as part of a broader plan to relocate a couple hundred employees from the unit to New York, according to a person familiar with the situation.	There is perhaps no more fitting finale to a long legal career than a judgeship. Ascending the bench after years appearing before it can bring power, respect, personal satisfaction, reasonable hours and, often, free parking. There have traditionally been few steps beyond: Retirement. Or death. But across the country — and in New York, more than most places — being a judge has in recent years come with one big negative: the salary.
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Job cuts at major banks intensify: IFR Gareth Gore Reuters 07/04/2011	Goldman Sachs to lay off 230 employees in New York Reuters 06/29/2011
Hundreds of bankers will lose their jobs over coming weeks, victims of what senior bosses say is likely to be an industry-wide culling of staff in response to a sharp downturn in demand for trading and investment banking services.	Goldman Sachs Group Inc (GS.N) plans to lay off 230 employees in New York because of economic conditions, according to a state filing on Wednesday.
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