Still facing the fallout from the sub-prime meltdown, the firm slashes pay for 60,900 employees
(Newser) -
Merrill Lynch, facing losses of $13.3 billion this year and with revenues off 96% from a year ago, will slash year-end bonuses at least 50%, Bloomberg reports. Some employees may face steeper cuts. Merrill and Bank of America, which agreed to acquire the failing investment bank earlier this year,...