When Lloyds bonuses are deserved

Last night Lloyds TSB met around 20 Parliamentarians over dinner (arranged many months previously) to share its views on the state of financial services sectors, especially mortgages, pensions and small business banking. Inevitably, the news that chief executive Eric Daniels had on Monday reassured staff that their bonuses would be paid came up. Lloyds TSB explained patiently that this internal announcement had been aimed at call centre, branch and back office staff on relatively low salaries who have an element of performance-related pay or who have reasonable expectation of receiving ...