Britain's third-biggest bank said up to 9 percent of employees could go, including 7,000 in Britain, as it tries to lower costs. The cuts are not concentrated in any one business area. It said it paid 2.4 billion pounds ($3.9 billion) in incentive awards last year, raising bonuses at the investment bank by 13 percent despite a slump in its profits. The average bonus for the investment bank's 26,200 staff was 60,100 pounds.Productivity of our richest employees down...only one solution -- fire the more productive other employees and pay the rich people more. Thomas Perkins would approve, obviously. After all, to not pay the rich even more would be another "Cristal-nacht". [cross-posted at Firedoglake]
Thursday, February 13, 2014
Yeah, the oppression of the one percent is palpable
Look at those poor suffering investment bankers!