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Article: Fury at Northern Rock bonus plan
- Article from:
- The Northern Echo
- Article date:
- January 22, 2009
- Author:
CopyrightCopyright 2009 The Northern Echo. Provided by ProQuest LLC. (Hide copyright information)
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NATIONALISED Northern Rock provoked outrage last night after the
bank confirmed plans to pay staff a ten per cent bonus for hitting
targets.
On the day figures revealed record numbers of people losing their
jobs across the region, bank managers said they would be paying out
[pounds
]8.8m on top of basic salaries.
The bonus - which will be paid out tomorrow - is a reward to the
Rock's 4,000 staff for hitting targets on repaying the bank's
[pounds
]26bn Government loan.
But critics said the bonuses were inappropriate when thousands of