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Friday, 9 May 2014

Barclays share price goes up on the news that 19000 people are to lose their jobs.

 http://www.independent.co.uk/news/business/news/barclays-boss-antony-jenkins-wields-the-axe--but-hails-wise-rise-in-bonuses-9341729.html

 

Barclays to cut 19,000 jobs




Share price soars on news of job losses





Barclays announce 19000 people are to be sacked within the next three years with more than 8500 of these within the United Kingdom and on top of the 12000 already announced. At the same time, Antony Jenkins, Barclays CEO insists that his controversial decision to increase bonuses despite falling profits was "a wise investment". On the release of this news the share price of Barclays rose by almost 6%.
Only the corrupt and obscene Capitalist system, could welcome the continuing payment of bonuses to a few "senior managers" and make money for a few "fat cat investors" on the news that thousands of people are to lose their jobs.