Barclays said to boost severance for some employees

Oliver Twist

Barclays boosted severance packages for equities employees dismissed in Tokyo last month, adding the equivalent of three months of pay to some of the 80 workers affected who had rebuffed initial offers, people familiar with the matter said.

Bloomberg News reports that human resource representatives for the bank presented the increased severance offer during meetings with the equity research and sales staff that began last week, according to the people, who asked not to be identified as the discussions are private. Barclays is offering the additional pay on top of the two-month to seven-month packages originally presented in January, the people added.

Many of the fired cash equity analysts, traders and sales personnel declined to sign their severance packages in January as the amounts on offer were lower than the market standard, the people said.

To access the complete Bloomberg News article hit the link below:

Barclays Said to Boost Severance Offer for Fired Tokyo Staff

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