BY AARON LUCCHETTI AND ALISON TUDOR
Responding to a difficult environment for Wall Street, Morgan Stanley plans to tell employees this week that bonuses will drop sharply, with cash payouts capped at $125,000, according to people familiar with the matter.
Some top executives will receive nothing now, deferring their 2011 payouts until the end of this year.
The New York-based bank, run by Chief Executive James Gorman, will defer the portion of any bonus past $125,000 until December 2012 and December 2013, according to one of the people familiar with the matter. Mr. Gorman and the other nine members of Morgan Stanley's operating committee, the firm's ...
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