Bankers Told to Fly Coach

Good news: On your next flight from Bangkok, Thailand, to Phnom Penh, Cambodia, you might get a chance to give those bankers a piece of your mind.

From Bloomberg, via Housing Doom:

Merrill Lynch & Co., UBS AG and JPMorgan & Chase Co. are telling senior bankers in Asia to fly coach on short-haul flights and reduce nonessential travel as they step up cost cuts, officials at the firms said.

UBS advised bankers this month to travel economy class for flights of up to five hours, two officials at the biggest Swiss bank said, asking not to be identified because it's an internal policy. Merrill employees have been told to travel economy for flights of as much as three hours since mid-September, two executives at the firm said.

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