Goldman Sachs International (GS) has triggered a clause inserted into the employment contracts of a group of its London-based investment bankers in mid-2009 that will result in them having to take a pay cut, Financial News has learned.
A number of staff across the investment bank's European division, which is based in London, have been told this summer that their base salaries will be cut, a source with knowledge of the situation told Financial News…
Read more at http://professional.wsj.com/article/BT-CO-20110825-707637.html?mod=WSJ_FinancialServicesAndInsurance_middleHeadlines&mg=reno-secaucus-wsj
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