Barclays Bank Doles Out Bonuses As Profits Dip And Jobs Cut

As Barclays PLC (NYSE:BCS) (LON:BARC) agrees to settle record fines for rigging markets,  and the firm’s litigation provisions increased 142% in 2013, it nonetheless found the courage to provide its 12 most senior executives $53 million (31.8 million pounds) in bonuses.

The American-born CEO of the UK bank, Hugh “Skip” McGee, received over $14.7 million as bank profits plummeted and the bank has plans to eliminate nearly 12,000 jobs.  The bank pretax profit in the fourth quarter of 2013 was $316 million (191 million pounds) versus...