Barclays Bonuses Up 10% As 7,000 Jobs Are Cut: "Barclays bank has pushed up staff bonuses by 10% despite seeing both its revenue and profit fall, as it admits 7,000 UK job cuts will occur this year.The bank said it would pay £2.378bn in "incentives", following the release of its annual results for 2013.
It said investment banking staff would receive two-thirds of the bonus pool - £1.57bn.
It said the average value of incentives paid to workers in the investment bank was £60,100, up from £54,500 in 2012.
The bonus increase was 10.2%, despite income at the section sliding 9% last year to £10.73bn."
Video report from Press TV--
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