Wall Street workers are not expected to receive big bonuses or bloated salaries this year amid the unresolved euro zone debt crisis.

Sources say the level of total compensation at Wall Street financial companies, including bonuses, is likely to hit its lowest point since 2008.

Goldman Sachs is expected to halve the pay of its roughly 400 partners while Morgan Stanley is predicted to cut bonuses for some of its investment bankers and traders by 30 to 40 percent.

The Wall Street Journal attributes the projected pay cuts to the global economic slump and lower trading revenue.