Swedbank scraps 2009 bonuses

Swedbank, one of Sweden’s largest banks, announced in January 2010 that it had cancelled most employee bonuses for 2009 in the latest sign of the pressure on financial institutions to curb pay.

Sweden, along with many countries, has provided government support for its banking system since the financial crisis, fuelling public anger over bonus payments to bank employees.

Swedbank: Press Release, 27.1.10: Swedbank cancels variable remuneration for 2009 http://www.swedbank.com/press/press-releases/index.htm?pressId=193759

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