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Barclays to cut 7,000 UK jobs as bonus pool up 10%

Barclays said today its total bonus pool for 2013 rose to £2.38 billion from £2.17 billion for 2012, including a £1.57 billion payout for its investment banking staff.

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Barclays culture change 'could become skin deep'

The culture change promised by Barclays "will be less than skin deep" if the group continues to increase bonus pools while cutting jobs, Unite union's national officer has said.

Dominic Hook questioned how the bank will maintain customer service standards after the 7,000 planned UK redundancies, and said workers "will be angry that they are bearing the brunt of the cuts".

Rather than reward the very few at the top and plan to cut thousands more jobs, Barclays should have used today to give a copper-bottomed guarantee that it will not close 400 branches across the UK - a quarter of its branch network.

– Dominic Hook, Unite

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