www.iva.co.uk

I see on the news that all of their employees are to be getting a 10% bonus this week.

I presume it's the tax payers money coughing up for that?

Thats unbelievable especially in this financial climate. As it is now state owned they should get zip!!!!

You wouldn't mind if they had done a good job!

Exactly Jan I agree [:D]

It gets worse as well!

"Northern Rock staff set for bonuses on Friday
By Chris Marshall | 15:48:05 | 21 January 2009

Staff at Northern Rock are set for a 10% bonus on Friday after the government-run bank met its final targets.

The Rock had controversially announced at the end of last year that if a quarter of the taxpayer loan was repaid by 31 December, the bank's staff will receive 10% of their salary, with a further 10% bonus payable if that proportion rises to three-quarters by the end of 2009.

As long as the public loan is paid back in full by the end of 2010 staff will get another 15% of their salary, while staff may get a further 25% bonus if and when the company is returned to private ownership.

Northern Rock employs around 4,500 staff having laid off around 1,500. Not all will qualify for Friday’s bonus.

Northern Rock’s success in paying off its government loan paved the way for an about turn in its strategy this week. The banks will now soften its policy of encouraging existing borrowers to remortgage away to help support the government’s bank rescue plan."

Think I'm in the wrong job!

I think I am in the wrong job also. The company I work for is not state owned and all our payrises and bonus have been frozen this year!!!! [:(!]

They will probarbly pay the bonuses using the interest rate cuts that they never passed on to the customers[:(!]

You're probably right!

I will probably get shot down for saying this, but it was not the Northern Rock employees who made bad banking decisions which led to the current situation, many of which have worked extremely hard in difficult conditions over the last few months.

I deal with a number of them on a daily basis, and can say that they are hardworking and loyal people who still have a pride about the bank and working for their employer. Recent events have been unfortunate, and they have had a very strict acceptance rate for IVAs, but hard work ought to be rewarded - and if there is bonus money to share out, I would much rather see it going to the general staff rather than distributed within the board room.

My main problem with this is that large bonuses will no doubt be paid to the people who caused this mess in the first place. I feel sorry for the people who customer facing and have had to deal with everything thrown at them whilst worrying about their own jobs.

I agree that it shouldn't go to the boardroom.

I suppose we all feel fed up reading the sob stories from the banks and then see the staff rewarded, whilst the economy lurches from one crisis to another and jobs are lost all over the place.

I completely understand what you're saying Jan. I'm looking at it from the way things are at work at the moment - everything carries on as normal with the customers, but we don't know what's happening, or if we'll be on reduced hours.

I've got everything crossed that it doesn't come to that Skip.

The amount of work I've had today I don't see how they can get rid of us!!!

Keep looking busy Skip - and make yourself indispensible!