Northern Rock to pay staff bonuses

[Wembley67]

http://news.bbc.co.uk/1/hi/uk_politics/7843124.stm

Does anyone think paying the staff a bonus is wrong?

Personally I think there is nothing wrong whatsoever with this. Joe Public do not realise that yes fair enough they have lost some money but the people that work behind the scenes are the ones that have to put up with the crap on a daily basis, I couldnt even imagine what stress they would have been under at the time.

The same goes for the christmas parties that were cancelled all over the place just to make the shareholders happy, if it wasn't for the 'minions' then things would be in a even worse state than they were.

Saying that I wouldnt be to happy if the bosses were getting the bonuses :grr:

Mon the bonuses and payrises to the 'wee staff' :agree:

[Mon Dieu4]

Don't see anything wrong with it at all, most of these bonus measures will have been in place before things started to go wrong, the average employee has done nothing wrong & is just working away the same as everyone else.

It's not their fault the Board etc got it drastically wrong :agree:

[col02]

A tad ironic an MP coming out against this procedure given they have the power to vote themselves payrises way above the inflation rate most years. By the same logic anyone involved in government should be taking a paycut too given how badly the economy is doing right now with worse to come.

[Hibs Class]

http://news.bbc.co.uk/1/hi/uk_politics/7843124.stm

Does anyone think paying the staff a bonus is wrong?

Personally I think there is nothing wrong whatsoever with this. Joe Public do not realise that yes fair enough they have lost some money but the people that work behind the scenes are the ones that have to put up with the crap on a daily basis, I couldnt even imagine what stress they would have been under at the time.

The same goes for the christmas parties that were cancelled all over the place just to make the shareholders happy, if it wasn't for the 'minions' then things would be in a even worse state than they were.

Saying that I wouldnt be to happy if the bosses were getting the bonuses :grr:

Mon the bonuses and payrises to the 'wee staff' :agree:


:agree:

[PeeJay]

http://news.bbc.co.uk/1/hi/uk_politics/7843124.stm

Does anyone think paying the staff a bonus is wrong?

Personally I think there is nothing wrong whatsoever with this. Joe Public do not realise that yes fair enough they have lost some money but the people that work behind the scenes are the ones that have to put up with the crap on a daily basis, I couldnt even imagine what stress they would have been under at the time.

The same goes for the christmas parties that were cancelled all over the place just to make the shareholders happy, if it wasn't for the 'minions' then things would be in a even worse state than they were.

Saying that I wouldnt be to happy if the bosses were getting the bonuses :grr:

Mon the bonuses and payrises to the 'wee staff' :agree:

Bonuses – should they be paid? Yes, for success, but not for companies staring financial disaster in the face, surely!
We’re at the start of a major financial recession brought on by a grossly negligent and incompetent banking and financial sector – we the tax payer are bailing them out, left, right and centre. Not just the in UK either - all across the globe. Bankers didn’t care about sound financial and banking practices: they only cared about making a quick buck, the word greed falls a long way short of summing them up. That’s why we got into this mess.
So, let me tell you what it’s like at the banks just now: what do you think all these bankers (the ones still in jobs) are doing at this very moment. Worrying about how their company (bank) will get out of the crisis, worrying about the billions they have basically ‘thrown out the window’, worrying about losing their jobs, worrying about granting loans to companies or house buyers: are you kidding? Perhaps they are having some slight problems with their conscience for putting the world’s economy in to freefall and making millions of others redundant: we’ll you’d be wrong there too, they're all sitting around in their meeting rooms wondering about their bonus and whether they will have to take a cut! That’s it: that’s all they care about, they haven’t learnt a thing: who cares if the global economy is heading for a recession the likes of which we haven’t seen, the ‘City Boys” want their bonus.
Common sense would ask them what for, but that is hardly a commodity in abundance at the banking/financial centres. Me, I wouldn’t give them a penny, but then of course I don’t have to, Brown is ‘helping out’ in the UK, Merkel in Germany and in the USA it’s Barack! What lucky bankers they all are! :faf::faf::faf:

[hibsbollah]

A tad ironic an MP coming out against this procedure given they have the power to vote themselves payrises way above the inflation rate most years. By the same logic anyone involved in government should be taking a paycut too given how badly the economy is doing right now with worse to come.

Why does that logically follow? Are you saying Government employees like the police, nurses and binmen should have paycuts because the government bailed out the banks?:confused:

[Betty Boop]

Obscene.

[Andy74]

Obscene.

It's ordinary bank workers we are talking about, not the execs or investment bankers who ultimately lost the banks money.

The ordinary workers have had a difficult time of it amid things that were not their fault. In a normal year they would get modest bonuses, and this has been more than a normal year for them and they've done nothing wrong so should continue to get recognised for their individual efforts.

90% plus of people who work for banks are people who work on the front line in bracnhes or in call centres, it's more retail profile than financial. Most of the businesses they work in are still good, busy, profitable businesses who are being dragged down by the investment side of their banks. The normal staff should not be disucussed in the same breath as the guys at the top.

[Andy74]

Why does that logically follow? Are you saying Government employees like the police, nurses and binmen should have paycuts because the government bailed out the banks?:confused:

You could argue, taking peoples poits to extremes that since these people work for the government and that even without the bail outs the government is running at a defecit, a huge loss, that people working for them should be taking pay cuts and not getting christmas parties.

This is the same as saying ordinary bank workers should pay for the losses made by their top guys.

[Spike Mandela]

It's ordinary bank workers we are talking about, not the execs or investment bankers who ultimately lost the banks money.

The ordinary workers have had a difficult time of it amid things that were not their fault. In a normal year they would get modest bonuses, and this has been more than a normal year for them and they've done nothing wrong so should continue to get recognised for their individual efforts.

90% plus of people who work for banks are people who work on the front line in bracnhes or in call centres, it's more retail profile than financial. Most of the businesses they work in are still good, busy, profitable businesses who are being dragged down by the investment side of their banks. The normal staff should not be disucussed in the same breath as the guys at the top.


90% of people in all businesses (including manufacturing like mine) work hard and should get recognised for individual efforts.

However bonuses aren't gauranteed and most companies that had as disastrous a year as Northern Rock wouldn't pay out bonuses at all.

Doesn't matter how hard individuals have worked the company has had a very, very bad year.

[col02]

Why does that logically follow? Are you saying Government employees like the police, nurses and binmen should have paycuts because the government bailed out the banks?:confused:

:confused: I thought my post insinuated politicians not ordinary government workers apologies if it suggested ordinary folk like civil servants, police and nurses. Binmen by the way are not government workers as they are to my knowledge sub contracted by the respective councils and work for waste management companies not the government.

[matty_f]

Don't see anything wrong with it at all, most of these bonus measures will have been in place before things started to go wrong, the average employee has done nothing wrong & is just working away the same as everyone else.

It's not their fault the Board etc got it drastically wrong :agree:

:agree:

Totally, the average person working for them will have had a brutal year, not just with customers being anxious and frustrated, but they'll have been fighting to keep the service levels up etc, as well as fearing for their jobs.

They'll be well worth a bonus, IMHO.

[JoeT]

:agree:

Totally, the average person working for them will have had a brutal year, not just with customers being anxious and frustrated, but they'll have been fighting to keep the service levels up etc, as well as fearing for their jobs.

They'll be well worth a bonus, IMHO.

They should just put a cap on those who get a bonus, along the lines of: only those earning under £50k a year will get one

[matty_f]

They should just put a cap on those who get a bonus, along the lines of: only those earning under £50k a year will get one

:agree:

[GlesgaeHibby]

A tad ironic an MP coming out against this procedure given they have the power to vote themselves payrises way above the inflation rate most years. By the same logic anyone involved in government should be taking a paycut too given how badly the economy is doing right now with worse to come.

They've always done ok with their bonuses and pay rises though. Its ridiculous that they take pay rises way above inflation and let the rest of the public sector take pay rises on or under inflation.

[Hibrandenburg]

Our CEO cancelled our Christmas bonus last year and rewarded himself for all the money he'd saved the company by pocketing a cool half million. :grr:

[Betty Boop]

It's ordinary bank workers we are talking about, not the execs or investment bankers who ultimately lost the banks money. The ordinary workers have had a difficult time of it amid things that were not their fault. In a normal year they would get modest bonuses, and this has been more than a normal year for them and they've done nothing wrong so should continue to get recognised for their individual efforts.

90% plus of people who work for banks are people who work on the front line in bracnhes or in call centres, it's more retail profile than financial. Most of the businesses they work in are still good, busy, profitable businesses who are being dragged down by the investment side of their banks. The normal staff should not be disucussed in the same breath as the guys at the top. Really, according to this article executives are being paid secret bonuses. At a time when thousands are losing their jobs and homes are being repossessed, I think its terrible that a Nationalised Bank has the cheek to pay bonuses. Workers are being paid bonuses for doing their job, whatever next, :rolleyes: http://www.independent.co.uk/news/business/news/northern-rocks-secret-bonuses-769979.html

[RyeSloan]

Really, according to this article executives are being paid secret bonuses. At a time when thousands are losing their jobs and homes are being repossessed, I think its terrible that a Nationalised Bank has the cheek to pay bonuses. Workers are being paid bonuses for doing their job, whatever next, :rolleyes: http://www.independent.co.uk/news/business/news/northern-rocks-secret-bonuses-769979.html

You seem to have little idea of what demands a lot of these financial institutions have placed on a large number of their staff this year...a lot of peoples contracts in banks and the like are 'bonus' contracts i.e you are expected to work well above and beyond what you are actually paid for in the knowledge that this work will be recognised (at least in some part) in way of an annual bonus.

Of course bonus levels are related to the profitibility of the company but to say simply that because the company lost money that none of it's staff deserve a bonus is nieve in the extreme....I personally know people who earn no over time to have worked 14..18 sometimes up to 22 hours days to 'get the job done' and to protect the companies business, do you think that these people deserve nothing in return or are they 'simply doing their job' ?