Jamie Dimon of
and Robert Rubin of
won't request bonuses in 2008, the
New York Times
reports, citing people familiar with their plans.
While JPMorganChase's CEO Dimon doesn't intend to ask for a bonus, like nearly every CEO in the banking industry because of weakness in the stock market and the general economy, Dimon's deputies are expected to receive bonuses based on their divisions' performance, the
Vikram S. Pandit, Citigroup's CEO, hasn't decided whether to accept a bonus, the
reports. But Rubin, a Citigroup board member and adviser, will not request a bonus for the second year in a row. That decision comes as Rubin faces criticism that he failed to prevent Citigroup's ill-fated push into the mortgage business, according to the nwwspaper.
It was reported by the
Thursday that partners at
will see their bonuses fall by up to 80% this year and the cash component of their year-end packages capped at $400,000. The top seven executives at Goldman, including CEO Lloyd Blankfein, have all said they will forgo 2008 bonuses.
said it is cutting its bonus pool by 50%.
This article was written by a staff member of TheStreet.com.