PERKS ANNIHILATED As Banks Go On A Cost Cutting Rampage

No one wants to see money thrown away on a birthday cake while their friends are getting laid off.

But there’s nothing fun about having your corporate expense card ripped from your fingers.

And so as a precursor to the mass layoffs that are about to hit Wall Street, the cost cutting rampage has begun.

Say goodbye to all these fun perks.

Mood-boosting shrubbery: GONE. Goldman Sachs's London office is getting rid of its decorative plants.

Newspaper subscriptions: CANCELLED. Banks are also can cancelling newspaper subscriptions

Office snacks: GONE. Several European banks are cutting back on biscuits (cookies).

Holiday parties: CANCELLED. Cost cutting will even affect Christmas parties at some firms.

Calls, texts, and data plans: LIMITED. Morgan Stanley said in June that phone usage would be watched more closely.

Business trips: CUT. Travel will be significantly reduced. Euro banks say travel won't be allowed one week every month.

Airlines: BUDGET AND COACH. Junior bankers will have to fly economy class and even shift to budget airlines.

Laundry: DIRTY. Some banks will even restrict laundry bills on business trips.

Powerpoint presentations: HIDEOUS. Banks will also limit colour photocopying.

No wonder bankers are leaving in hoards to work at hedge funds.

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