OTHER NEWS - Nov. 20, 1991
Salomon Lays Off 130: Salomon Bros. Inc. laid off 130 investment bankers, stock traders and analysts in the latest restructuring after the firm’s Treasury bond scandal. The dismissals are part of a major cost-cutting effort undertaken by interim Chairman Warren E. Buffett, who last month took back $110 million that had been set aside for a year-end bonus pool. Buffett reportedly has been unhappy with the performance of the corporate finance and stock trading and sales departments, which suffered the layoffs.
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