Government Restricts RBS Bonuses
Published / Last Updated on 17/02/2009
Government Restricts RBS Bonuses
The Government has confirmed that it will restrict bonuses for staff at ailing, nationalised bank, Royal Bank of Scotland (RBS).
No cash bonuses will be paid and any earned bonuses will be distributed in the form of shares.
Last month the bank posted a loss of £28bn for 2008 and we suggest that this is a very difficult position to satisfy all people. There will be some employees who have worked extremely hard this year to achieve all their targets and will be rightly aggrieved that they will miss out on endeavours.
There will of course be others who deserve to be ‘hung, drawn and quartered’ for making such disastrous, ill judged investment and strategic decisions that perhaps should pay back their salary.
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