Brokerages cut salaries, second time in 6 months


It is a measure of how bad things are on Dalal Street – stockbrokers catering to the institutional segment have salaries by 20 per cent for the second time in the last six months. “This is our second salary cut for 2011 as revenues are down and there is no other business to turn to,” confirmed an employee at a brokerage which is into institutional business and proprietary trading.
http://www.thehindubusinessline.com/markets/stock-markets/article2675212.ece

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