Banks should brace themselves for a spate of claims from "disgruntled" bankers unhappy with their bonus payments, lawyers have warned.
Despite last year's massive public backlash against excessive bonuses, employment lawyers have said a growing number of bankers are considering suing their employers if they do not receive the bonuses they think their work merits, reports the Telegraph. In preparation for lower bonus payouts this year, bankers are building cases against employers and are prepared to take their battle all the way to the courts, according to city lawyers. One avenue being examined is how bankers can exploit any "wiggle room" in their current contracts, Kingsley Napley employment partner Richard Fox told...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes