Never-ending bad news, layoffs = bad morale - Vice President - Technology Barclays Employee Review

Since the bank announced last May that the investment bank will be shedding 7000 jobs, the mood has been bad. Morale is poor. Annual rankings force each manager to classify 10-20% of their direct reports as "needs improvement". Anybody that gets this ranking is let go. In other words, every manager has to let go of people every year. The number of scandals and regulatory issues Barclays is currently involves with is embarrassing and depressing. Bonuses were laughable or nonexistent.