OTHER NEWS - Dec. 10, 1991
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Salomon Bros. Cuts Bonuses: Fulfilling his pledge to link pay more closely to performance, Chairman Warren Buffett has cut the 1991 regular annual bonuses for 70% of the securities firm’s top 150 executives. Company sources said the cuts have aroused resentment in some parts of the firm and are certain to contribute to the departure of a significant number of executives early next year. The firm also said it has reduced the bonus pool for its more than 2,000 professional employees below the rank of managing director.
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