It remains to be seen just how far Bankers Trust New York Corp. will go in cutting costs, but evidently the bank has already made it clear to employees that the good times are over.

A recent internal "memo," demonstrating the gallows humor that often surfaces when corporate belts are tightened, jokingly suggests that BT employees will soon be paying for their own phone calls, staying with relatives when they travel, and billing airline tickets to clients.

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