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Barclays, Deutsche Bank / To cut pay up to 20 percent

Barclays (BARC.L) and Deutsche Bank (DBKGn.DE) will take a knife to bonuses for investment bankers in the coming weeks as they seek to tackle high costs, people familiar with the matter said.

Britain’s Barclays is finalizing bonuses for last year and overall 2012 compensation for investment bankers will fall by between 10 percent and 20 percent on average, two sources said.

New Barclays CEO Antony Jenkins is revamping the bank and has pledged to cut pay to lift returns for investors.

Deutsche Bank’s investment bankers will see bonuses for 2012 fall by 15-20 percent, two sources said.

The reduction follows a year of restructuring at Germany’s flagship bank and pressure from regulators to clamp down on short-term rewards.

Barclays and Deutsche Bank declined to comment.

Chosen excerpts by Job Market Monitor from

via Barclays, Deutsche Bank to cut pay up to 20 percent: sources | Reuters.

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  1. Pingback: Barclays / To Cut 2,000 Jobs « Job Market Monitor - February 1, 2013

  2. Pingback: Barclays / To cut 3,700 jobs « Job Market Monitor - February 17, 2013

  3. Pingback: Banks in Europe – 80,000 jobs cut in 2013 finds Reuters | Job Market Monitor - April 13, 2014

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