Co-Op Bonuses kick off a storm

 

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Interesting article in today’s Observer.

Is this a necessary price to secure the best talent, or is capitalism running untamed?

“Critics question the “bomb-proof” nature of the remuneration packages, which will be paid out regardless of any turnaround in the Co-op’s fortunes this year.”We all want the Co-op to be strong and successful again,” said Lord Oakeshott, the former Liberal Democrat Treasury spokesman and a Co-operative Bank customer. “But gigantic golden hellos for the new bosses send the wrong message to millions of loyal members, customers and staff. Of course, managers should be well rewarded – when they’ve turned the business around sustainably over the next five years.”

 

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