Goldman Sachs employees were informed this week what their year-end bonus would be, and the result was a mixed bag. With the overall pool flat or a bit lower, the firm’s fixed-income traders on average received a smaller payout than a year ago, people familiar with the matter said.

Some employees in that unit, which had its lowest revenue in five years, experienced declines of 10% or more in their year-end bonus, which is usually a mixture of cash and deferred vehicles such as stock.