Monday, November 19, 2012
Barclays Purges Thought Crimes
Echoing an Orwellian dictatorship, Barclays is attempting to "cleanse" the minds of its executives of their aggressive money making thoughts.
The Mail reports that Antony Jenkins, the CEO of Barclays, has ordered more than 100 of the bank's most senior executives to attend a two-day re-education event.
The process is designed to cleanse their minds of the aggressive culture instilled by his predecessor Bob Diamond.
The re-education event, to be held in North London, is part of a drive by Jenkins to win back the trust of customers and regulators by making a decisive break with the Diamond era.
The attendees will participate in a series of seminars and bonding exercises aimed at instilling ethical values. The executives will then be expected to act as evangelists for the new culture throughout the organisation. During the two days they will be immersed in sessions including history lessons on the bank’s heritage as a Quaker institution.
They will also be subjected to ‘360 degree feedback’ on their performance, with people both above and below them contributing to their bonus assessments. The process is designed to penalise self-serving or unethical behaviour.
Let's see how that goes then!