Roger B. Smith, the retiring chairman, whose annual pension benefit will be increased to about $1.2 million from about $700,000, defended the action as necessary to stem defections of key executives.
Roger B. Smith, the retiring chairman, whose annual pension under the new plan will be about $1.2 million rather than the $700,000 provided by the current plan, defended the action as necessary to stem defections of important executives.
The moves, some of which Merrill announced internally yesterday, are the latest in a series of attempts by Wall Street firms to stem defections.
The sharp increases reflect a national trend in which big firms are paying associates at all levels more to stem defections to dot-com companies.
But during the regional championships in Puerto Rico, Cuban officials have had to beef up security to try to stem defections.
These would, if approved, include both cash bonuses and prizes, to stem both defections and retirements.
Perot volunteers here have been working hard to stem defections.
"Psychologically, it's had a devastating effect, so some catalyst is needed to stem defections."
To stem mass desertions and defections of Red Army soldiers, Stalin had deserters and renegades rounded up and publicly executed as traitors.
Verizon, like AT&T, has struggled to stem defections from its wireline customers.