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Jefferies executives warn staff of ‘difficult’ year for bonuses
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Jefferies executives have warned staff that 2022 will be a "difficult compensation season" as investment banks prepare to cut variable pay after a slump in deals this year.
In a letter to staff, Jefferies chief executive Rich Handler and president Brian Friedman said that a hiring spree at the bank over the past three years combined with a more challenging environment for deals was likely to mean bonuses will be reduced.
"As...
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