High-earning bankers have little holiday cheer as low bonuses, layoffs foreseen

Forget the Champagne and fancy appetizers for Wall Streeters' New Year festivities. High-earning bankers and traders are not in a party mood this year, fearing a mass wave of pink slips and lower bonuses. Morgan Stanley alone is said to be planning a 2% reduction of its workforce, amounting to as many as 1,500 employees....