Barclays to shed 7,000 UK jobs - while it boosts bonuses
Barclays Bank is to shed 7,000 UK workers even as it is increasing the bonuses it pays.
The bank, which employs 140,000 worldwide, raised its total bonus pot by 10% in 2013 to £2.38 billion, while upping those in its 'casino' investment arm by 13%.
The company saw pre-tax profit fall from £7 billion to £5.3 billion in the year, and has decided that regular workers will bear the majority of pain for this.
Only 820 jobs will be lost from senior management.