Wall Street likely to cut bonuses 15-20%, make significant layoffs - report

NEW YORK (Reuters) - Wall Street is likely to cut bonuses this year by 15-20% and make significant layoffs, according to a report published Tuesday by compensation consulting firm Johnson Associates Inc. The estimates in the report by Alan Johnson, closely watched by financial professionals, are less severe than Johnson projected earlier this year. https://reut.rs/2WQHj5s But the pay cuts and layoffs may be more widespread as firms fail to meet their 2020 business and financial objectives and..