Northern Rock staff get bonuses

Meanwhile, Northern Rock will be distributing £9 million in bonuses for staff as the bank has repaid part of its loan from the government on time. The 10 per cent bonus will apply to all 4,400 staff members, and is the first stage in an incentive scheme that could see the state-owned banks pay out more than £50 million to its workers in the next few years. The bonuses have been labelled ‘crass’ and ‘indefensible’ by the Liberal Democrats.