(1). To proactively address an issue which is identified as potentially dangerous to the firm or a client relationship. The term is often used when trying to quietly clean up an error before the client notices anything is wrong.
(1). That anxiety-inducing term every department faces at comp time. Will it go up? Will it go down? Did we hit our numbers? Where am I on the performance chart this year? Yikes!
“So, team, unfortunately, it looks like we’re going to have to reduce headcount this year by at least two. The good news is, no one likes Larry and Monica, so they’re out. The bad news is … Larry, Monica, can you please see my in my office after this meeting? Thanks a bunch.”