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Barclays Cuts 10 Percent Pay of Contract Staff

25-Mar-14
Barclays Cuts 10 Percent Pay of Contract Staff

Barclays said it plans to cut by 10 thousands of contract staff salaries % or termination of roles.
Bank informed that the contract employees, they will have to accept a 10% pay cut , or terminate their work . Bank management wrote a letter to employees, informing them of the new , lower interest rates will be imposed from April 7 to all the " temporary" in the United Kingdom and the United States . The move is part of the bank's plans to review its cost base .

In an e-mail that any contractor who does not agree with the new rate should be , " Please accept this communication notice , terminate your current assignment completed on Friday Barclays April 4, 2014 , or the end date of your current task , If you sooner . "

After the decision the decision to wage cuts of 10% in the country's top bankers hike their bonuses . Anthony Jenkins , CEO and board of directors has approved the hike in bonuses even as revenue fell flat . This may cause tension between the Bank of England and European regulatory agencies. Jenkins , head of Barclays Bank refused bonus items from the bank in 2013 related to the scandal facing the banking costs.

These figures show that bank records revenue decreased to 27.9 billions of pounds lower than the underlying profit of about £ 540 one billion consensus forecast . The bank had set the reserved 2 £ billion to its customers on an annual bill of mis-selling scandal .