Monday, January 11, 2010

Imbalance

At the end of this month Corus Steel will layoff 1,700 workers on Teeside.

On another planet, the Financial Times today tells me that "Banks have traditionally paid out about half of revenues to employees in salaries, bonuses, insurance and other benefits, dwarfing the compensation ratios used in most industries".

For Goldman 2009 revenues are predicted to be $44bn - you can do the arithmetic.