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Barclays to cut pay by ?450 million over scandals

Barclays bank (LSE: BARC. L - news) plans to cut back or about 4.5 million pounds of salary, the staff more than last year's speed soccer fraud scandal was forced to leave their administrative President and chairman of the board of directors, a people familiar with the matter said on Wednesday.
Will return about 140 million pounds from the past salary as other misconduct due to improper sales repayment guarantee insurance (PPI) and false information in the customer's interest rate swap product, this person said.
Barclays fine about 2.9 million pounds, in June of last year American and British regulators control London interbank rate, Banks will slash 2012 bonus amount of about 1.6 million yuan, the staff of the deferred stock bonus from early quantity is roughly same, because London interbank interbank problems and claw for many years, this person said.
The bank refused to comment on the report.
The size of the punishment, first of all by the sky television news reports, the new administrative Sir Anthony Jenkins to prove that the bank is in the punishment employees reputation losses caused by the investors pay too much scandal and address criticism.
Barclays said two weeks ago, in 2012, down 14%, begin from 2011, it still will pay about 180 million pounds of floating salary. It will release the further detailed information, salary in its annual report, is expected to be announced next week.
The bank also will launch its 140000 employees salary level in the bid for the new President David walker report to enhance transparency in more details.
The bank will issue salary level of all staff, this person said, including many earned more than 1 million pounds - a number, could be as high as 500.
Walker promote bank released the number of employees in 10000 to 25000 pounds, 2.5 million to 5 million pounds, more than 5 million pounds salary level.
In the past, barclays bank only disclose the top eight person, and risk post staff average wages, or the so-called code personnel salary. In 2011, 238 yards of the employee average income for 1.5 million pounds, including long-term reward.
 



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