Northern Rock , the bank that is in crisis , has been paying a number of its senior managers secret bonuses according to a report in the Independent .
The bank has sanctioned millions of pounds in confidential "retention bonuses" to managers and management board directors deemed "essential to its continuing excellent operational performance". Some 173 staff out of a workforce of more than 6,000 have been paid the bonuses. An outlay of more than £2 million a month on bonuses to this select band of employees.
As the saying goes "The Devil protects his own"
Sunday, January 13, 2008
Northern on the Rocks
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