Barclays Slashes Bonuses for Dozens of Bankers Amid Market Downturn

Barclays' bonus pools for 2023 are down by as much as 30%, but bankers and traders with guaranteed payouts are immune to the squeeze, depleting the bonus pool for everyone else. The bank is reportedly planning to hand out zero bonuses to poor performers in its banking team to save money, following senior banker exits and complaints about unpaid guarantees. Similar complaints have been reported at Jefferies and UBS, which paid guarantees to many managing directors hired from Barclays last year.