Commonwealth bank boss Ralph Norris takes cut
COMMONWEALTH Bank boss Ralph Norris has volunteered to take a 10 per cent pay cut, reducing his $3.12 million base salary as the bank tightened its belt to weather the global economic crisis.
Morgan Stanley has cut 200 staffers from its brokerage department, the latest round of cutbacks as the big Wall Street firm completes the merger of its brokerage sales force with the Smith Barney brokerage unit, FOX Business Network has learned.