Job Cuts and Smaller Bonuses Loom for Wall Street Amid Collapse in IPOs and Stock Issuance
“There are going to be a lot of people who are down 50%,” Alan Johnson, managing director of the namesake firm, said in an interview. “What’s unusual about this is that it comes so soon after a terrific year last year. That, plus you have high inflation eating into people’s compensation.” “We will have layoffs…