It's no wonder people are flocking to McDonald's, particularly at a time when companies are cutting bonuses and other perks.

"Now, again, they will cut our salaries and bonuses, from the little that we have left."

Wall Street firms cut bonuses and laid off employees.

"We can cut bonuses, publicly criticize or move a worker to another job," Mr. Zheng said.

But investment firms are now retrenching, laying off people and cutting bonuses.

After the workers learned of disappointing losses at one of these meeting, they insisted on cutting yearly bonuses and a planned wage increase.

By having the flexibility to cut bonuses when performance is poor, companies have another tool to bolster earnings.

And rather than cut year-end bonuses for government employees, the government will pay them in installments over 12 months.

Therefore, many executives concede, firms actually have little leeway to cut bonuses significantly unless they act in concert.

Sir Mervyn King called on banks to conserve capital, possibly by cutting dividends and bonuses.