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 layoffs could be significant. Companies were forced to make quick decisions and cut red tape during the pandemic, and..