JPMorgan’s Christmas Gift to the Rich and the (Relatively) Poor


JPMorgan is lifting the onerous salary freeze it placed on employees earning more than $60,000 a year, and — ostensibly because they don’t want to be seen as favoring the wealthy — they’re throwing a few alms to the poor folks in their community, too: “In addition,” the memo from HR reads, “We will grant a one-time US$500 special award early next year to employees globally with total annual cash compensation of less than US$60,000.” God bless us, every one. [DealBook/NYT]