COMPANIES The decision by Goldman Sachs’ top executives to forgo bonuses this year is putting pressure on their competitors to follow suit or risk being demonised in the court of public opinion.
The growing pressure was evident on Monday after Citigroup’s chief executive, Vikram Pandit, convened a “town hall” meeting of the bank’s 352,000 employees worldwide to announce 50,000 job cuts as well as other cost-cutting efforts.
