Socialist Worker

Barclays bosses make money from sacking

Issue No. 1691

Barclays bosses make money from sacking

TWO BARCLAYS Bank bosses were paid more than �3 million between them last year. Chairman Sir Peter Middleton's salary has QUADRUPLED to �1.76 million. That included salary and fees of �947,000, a cash bonus of �800,000, "benefits" of �4,000, and �8,000 profit share. Meanwhile chief executive Matt Barrett raked in �1.3 million for just three months work.

"These contracts are common at this level," said a Barclays spokesperson. Were these bank robbers being rewarded for sacking 7,500 workers last year? This week Barclays is due to close another 172 of its branches with another 500 jobs going. In contrast to the fat cat salaries of the Barclays millionaires, a Barclays cashier starts on just �10,000 a year. Barclays profits rose by 30 percent last year to �2.5 billion.


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News
Sat 8 Apr 2000, 00:00 BST
Issue No. 1691
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