Home› Archived Forums› General Discussion
Options

RBS to pay bonus to staff who brought the bank to its knees

daniel hallidaydaniel halliday Posts: 863
Forum Member
✭✭
in General Discussion #1
well as a now former RBS staff member, i mentioned on here a week or so ago that it was planned that the RBS was still going to pay out big bonus's , well now its official ,taxpayer money is used to reward the scum that brought the bank to the verge of bankruptcy,:mad:

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3333632/RBS-will-pay-bonuses-to-staff-despite-government-bail-out.html

now i'm gone i hope they go to hell in a hand cart,

Comments

  • Options
    10past310past3 Posts: 1,380
    Forum Member
    ✭✭✭
    #2
    Bonuses [bonus's? how so?] are probably written into the contracts of employment and would be very costly to wriggle out of. Life's not always black and white.
  • Options
    ianxianx Posts: 9,190
    Forum Member
    ✭
    #3
    Good for RBS. They are not the boardroom management, they are the underlings who did the work as directed by the boardroom. I hope they enjoy their bonuses, and don't worry too much about how badly their employee shares are doing thanks to the mis-management of the top bosses.
  • Options
    ianxianx Posts: 9,190
    Forum Member
    ✭
    #4
    daniel halliday wrote: »
    taxpayer money
    So far, the tax payer has no ownership in the Royal Bank of Scotland.

    In mid October, the government took £5 billion of preferential shares in RBS. These shares give no voting rights, hence no 'ownership', but they do pay the government (and so the taxpayer) a nice 12% coupon. That's 600 million pounds a year we get FROM the Royal Bank of Scotland now.

    This month (or not.... see News) the Royal Bank of Scotland will have right issue to the existing shareholders to try to raise £15 billion. In the last rights issue, in the summer, the shareholders took up 95%+ of the rights. The November rights issue is being under-written by the government/taxpayer. If the current RBS shareholders don't take up their allocation in the coming rights issue THEN government will step in, and THEN you can moan about the taxpayer owning RBS, but not yet. Bide your time.
  • Options
    [Deleted User][Deleted User] Posts: 687
    Forum Member
    ✭✭
    #5
    10past3 wrote: »
    Bonuses [bonus's? how so?] are probably written into the contracts of employment and would be very costly to wriggle out of. Life's not always black and white.

    What a load of rubbish

    http://dictionary.reference.com/search?q=bonus

    A bonus is payment over and above what the company are obliged to pay the employee
  • Options
    d'@ved'@ve Posts: 45,531
    Forum Member
    ✭
    #6
    daniel halliday wrote: »
    well as a now former RBS staff member, i mentioned on here a week or so ago that it was planned that the RBS was still going to pay out big bonus's , well now its official ,taxpayer money is used to reward the scum that brought the bank to the verge of bankruptcy,:mad:

    http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3333632/RBS-will-pay-bonuses-to-staff-despite-government-bail-out.html

    now i'm gone i hope they go to hell in a hand cart,

    From the above link:
    ...there are people who still made fairly substantial money in other product areas – you cannot just not pay them bonuses, they will just go elsewhere."

    I don't see the problem. Those staff who made profits to lessen the horrendous losses of other staff are to be rewarded. Hopefully those in the areas causing the write-downs will just get basic salary.

    You can't just lump all staff in a organization together.
  • Options
    BigfeetBigfeet Posts: 14,180
    Forum Member
    ✭✭
    #7
    N73 wrote: »
    What a load of rubbish

    http://dictionary.reference.com/search?q=bonus

    A bonus is payment over and above what the company are obliged to pay the employee

    I have to disagree - some companies have bonus schemes and particularly in large companies such as the one that I work for, bonuses are part of the contractual agreement between the company and its employees :) .

    Of course bonuses (in the case of my company) depend on meeting targets, and so if an employee is shown by performance review not to have met their targets then the bonus/es are quite rightly not paid :) .
  • Options
    fi~fi~ Posts: 5,481
    Forum Member
    ✭
    #8
    my bonus is written into my contract if i hit my targets
  • Options
    robtuk06robtuk06 Posts: 4,561
    Forum Member
    ✭✭✭
    #9
    N73 wrote: »
    What a load of rubbish

    http://dictionary.reference.com/search?q=bonus

    A bonus is payment over and above what the company are obliged to pay the employee

    Disagree.

    Employers can (and do) write a bonus into a contract.

    For example "will get a bonus of x if you achieve y".
  • Options
    10past310past3 Posts: 1,380
    Forum Member
    ✭✭✭
    #10
    N73 wrote: »
    What a load of rubbish

    http://dictionary.reference.com/search?q=bonus

    A bonus is payment over and above what the company are obliged to pay the employee

    Charmed I'm sure. My bonuses have always been a contractual agreement.

    The news media were widely reporting around the time that this all broke that 'city bonuses' are generally part of an employee's T&Cs.

    Enjoy your Sunday afternoon Mr N73. :)
  • Options
    jamesp26jamesp26 Posts: 3,036
    Forum Member
    ✭✭✭
    #11
    fi~ wrote: »
    my bonus is written into my contract if i hit my targets

    How many Big Macs is that then?
Sign In or Register to comment.