“Barclays PLC is working on a radical new pay scheme that could see bonuses for top executives cut and not paid out until they retire,” notes Fox Business. Long-term bonus plans that have previously paid out amounts running into the tens of millions of pounds will be overhauled under the new scheme. “Any big payouts would be held in shares and deferred until the executive retires or leaves the bank,” Fox reports. The bank’s reputation has been tarnished in recent months by a series of financial scandals.
Barclays blocks bonuses until retirement
Barclays is exploring a new pay scheme that would cut top bankers’ bonuses and postpone payment until retirement.
August 6, 2012