Audio By Carbonatix
Fearing its latest round of bonuses would create negative headlines and trigger a backlash, Barclays decided to act.
But rather than rein in fat-cat remuneration, it came up with a novel way to head off public anger – turn off televisions in branches so customers couldn’t watch the news.
Earlier his week Barclays announced that 500 super-rich bankers pocketed at least £1million each last year.
Concerned about ‘negative coverage’ it urged staff in its high-street branches to turn over from news channels and, in a last resort, to unplug the screens.
Last night bank bosses denied they had made a direct instruction to change the channels but spoke of their regret over the memo in which the ploy was outlined.
The memo read: ‘It’s likely there will be some media interest.
'We’d like to give you the heads up so you can change the channel in your branch to support colleagues in the event there is negative coverage.
It recommended a couple of channels, adding ‘as a last resort find the power source and turn off the TV’.
Yesterday customers at Barclays said they were ‘stunned and outraged’ by the directive and accused the bank of trying to mask a fat cat culture.
Customer Gemma Jones, 24, of Manchester said: ‘It’s shocking that they would issue a memo which set out to deceive their own customers.’
Another customer said: ‘It’s astonishing. Many people who bank with Barclays will be outraged. It is absolutely stunning really.
'They have obviously learnt that customers find these bonuses unacceptable so their solution it – keep it from the customers. What a joke.’
Barclays’ annual report, released this week, also revealed that chief executive Antony Jenkins will be paid £950,000 in share allowances on top of his normal salary and bonuses – taking his potential remuneration to £6.3million.
Mr Jenkins said the controversial decision to increase bonuses by £200m in 2013 despite profits falling had to be made or the investment division would suffer.
Last night a spokesman for Barclays said: ‘The TV screens in our branches are tuned to one channel, typically news.
Some branch staff asked whether they could change the channel if they felt the programme unsuitable.
‘We encourage our staff to use their discretion and confirmed that they could do so. We did not direct colleagues to change the TV channel.’
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