Embattled brokerage firm Jefferies (JEF) is instituting a new compensation plan that will require employees to pay back discretionary compensation – i.e. bonuses — should they leave the company voluntarily in 2012, according to a memo obtained by the FOX Business Network.
“The reason we are moving to this form of cash award is straightforward,” the firm said in the memo. “We are paying out a full compensation rate as a percentage of revenues (albeit revenues below our collective expectations), and the portion of our compensation that will be paid in cash is among the highest percentages of cash among all our major competitors.”
Risk Our Money Not Yours | Get 50% Off Any Account
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply