In an internal conference call last week, Morgan Stanley co-president James Gorman doled it out and told them what to call it.
"There will be a retention award. Please do not call it a bonus. It is not a bonus. It is
an award. And it recognizes the importance of keeping our team in place
as we go through this integration."
You can hear the audio here.
It is a beg…a bribe. For those involved in critical work, with critical historical or legacy knowledge or skills, to implore them to stay on so the nose dive doesn’t steepen.