Pay cuts may signal "new normal" on Wall Street

In the past few days, major global banks have taken the ax to pay with unusual zeal. JPMorgan Chase & Co (JPM.N) slashed the compensation of CEO Jamie Dimon, one of the world’s top bankers, by half despite record earnings in 2012. His crime? Being in charge when an investment unit ran amok with …

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Pay cuts may signal "new normal" on Wall Street

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