February 10, 2009

Bankers wait for bonuses

Walk along any High St and the sight is becoming grim, stores are struggling, some have closed down leaving huge empty spaces that may not be filled for a long time. Yet along the same High St are the branches of the UK banks, despite the problems they are doing all right.

These branches are the faces of the banks and so there is some resentment towards them when first the government bailed the industry out with billions of pounds of taxpayer’s money and now just to make things worse, we are entering the bonus season.

Yet these bonuses will not find their way down to branch level, those people working behind the counter will not be seeing a little extra in the wages. Bonuses are reserved for the senior managers and these people are looking at getting a six figure some for all of their good work.

Source [Telegraph]