Lloyds boss denies bonuses are directly linked to making job cuts

Lloyds Banking Group chief executive Eric Daniels yesterday denied claims that senior employee bonus payments were linked to cutting more members of staff.

Giving evidence to the Treasury select committee, Daniels was asked by MPs how staff were rewarded for enacting “synergy changes”, including job cuts, following the group’s purchase of HBOS in September 2008.
 

It’s untenable to have a normal retirement age in public-sector schemes that is significantly different from the state retirement age

Brian Bailey, Director of pensions, West Midlands Pension Fund and member of High Pay Commission