Lloyds fires staff and axes bonuses for Libor rigging

Eight workers dismissed for manipulating benchmark interest rate, with cuts to overall bonus pool also expected

Lloyds Banking Group has fired eight staff and withheld £3m of bonuses following their unacceptable actions, which led to the bailed out bank being fined for Libor rigging.

As a result of the £226m penalties for manipulating the benchmark interest rate, Lloyds also indicated that its entire bonus pool could be cut to reflect the cost incurred by the bank, which is 24% taxpayer-owned.

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via Business Feeds

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