It’s a hard knock life: No holiday party or bonus.
NYPost: Banking company Morgan Stanley – having weathered a financial crisis that crippled profits and took its shares on a wild roller-coaster ride – has cancelled all plans for Christmas festivities this year, according to an internal memo distributed Friday that was obtained by The Post.
Christmas parties are a big deal at banks – a chance to blow off steam after a year’s worth of unbridled dealmaking – so it’s no small issue for top brass to cut them out.
After months of dreary headlines about layoffs and bankruptcies at competing banks, Morgan bankers lamented to The Post about the kibosh put to the year-end bashes, which now add to the insult of their nonexistent bonuses.
…”To help ease that pressure, we have asked all divisions to forgo their firm-sponsored holiday parties this year and instead help us apply those designated funds toward helping those most in need,” Nides wrote.
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