Olswang cancels Xmas bonus in cost-cutting drive
Olswang has cancelled its staff Christmas bonus, citing current tough market conditions. The City firm has announced to all of its employees that it has also cancelled staff weekend trips as part of the cost-cutting drive.An Olswang spokesperson said: "In light of the difficult market conditions which all businesses are currently facing, we have decided to take some prudent fiscal measures. We have announced to all staff that, unlike in previous years, we will not be having group weekend trips away and we have made a decision not to pay a Christmas bonus. These have obviously been difficult decisions but ones which we feel are a sensible and measured response to the current economic climate."
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