24th Feb 2016 15:19
LONDON (Alliance News) - Barclays PLC has cut its investment banking division's bonus pool by about 10% to 12%, Bloomberg reported on Wednesday, citing people with knowledge of the matter.
According to the report, there would have been a bigger fall in individual employee variable pay if the group wasn't cutting 1,200 jobs at the division.
In 2014, the investment bank paid out 24% less in bonuses than in 2013, Bloomberg said, with the bonus pool falling to GBP1.0 billion.
http://www.bloomberg.com/news/articles/2016-02-24/barclays-said-to-cut-investment-bank-bonus-pool-as-much-as-12
Shares in Barclays were down 3.6% at 155.75 pence on Wednesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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