BCS » Topics » 8 Staff costs

This excerpt taken from the BCS 6-K filed Aug 3, 2009.

Staff Costs

 

     

Half Year

 

Ended

 

30.06.09

 

£m

 

   

Half Year

 

Ended

 

31.12.08

 

£m

 

   

Half Year

 

Ended

 

30.06.08

 

£m

 

 

Salaries and accrued incentive payments

   3,813         2,906      2,881      

Social security costs

   303      207      237   

Pension costs

      

– defined contribution plans

   117      144      77   

– defined benefit plans

   183      46      43   

Other post retirement benefits

   7      (14   15   

Other

   392      380      282   

Staff costs

   4,815      3,669      3,535   

Staff costs increased 36% (£1,280m) to £4,815m (2008: £3,535m) driven by a 32% increase in salaries and accrued incentive payments, primarily in Barclays Capital reflecting the inclusion of the acquired Lehman Brothers North American businesses and in year hiring.

Defined benefit plan pension costs increased £140m to £183m (2008: £43m) primarily due to lower expected return on assets.

 

 

 

Barclays PLC – 2009 Interim Results    64    LOGO


Table of Contents

Notes

 

 

 

8.

Operating Expenses (continued)

 

This excerpt taken from the BCS 6-K filed Aug 3, 2009.

Staff Costs

 

Half Year Ended

Half Year Ended

Half Year Ended

 

30.06.09

31.12.08

30.06.08

 

£m

£m

£m

Salaries and accrued incentive payments

3,813

2,906 

2,881 

Social security costs

303

207 

237 

Pension costs

 

   

- defined contribution plans

117

144 

77 

- defined benefit plans 

183

46 

43 

Other post retirement benefits 

7

(14)

15 

Other

392

380 

282 

Staff costs

4,815

3,669 

3,535 



Staff costs increased 36% (£1,280m) to £4,815m (2008: £3,535m) driven by a 32% increase in salaries and accrued incentive payments, primarily in Barclays Capital reflecting the inclusion of the acquired Lehman Brothers North American businesses and in year hiring.


Defined benefit plan pension costs increased £140m to £183m (2008: £43m) primarily due to lower expected return on assets.


 
 

This excerpt taken from the BCS 20-F filed Mar 24, 2009.

8 Staff costs

 

      2008
£m
   2007
£m
   2006
£m

Salaries and accrued incentive payments

   6,273    6,993    6,635

Social security costs

   464    508    502

Pension costs – defined contribution plans

   237    141    128

Pension costs – defined benefit plans (Note 30)

   89    150    282

Other post-retirement benefits (Note 30)

   1    10    30

Other

   715    603    592

Staff costs

   7,779    8,405    8,169

Included in salaries and incentive payments is £257m (2007: £551m, 2006: £640m) arising from equity settled share-based payments, of which £23m (2007: £60m, 2006: £78m) is a charge related to options-based schemes. Also included is £3m (2007: £8m, 2006: £6m) arising from cash settled share-based payments.

The average number of persons employed by the Group worldwide during the year was 151,500 (2007: 128,900, 2006: 118,600).

This excerpt taken from the BCS 6-K filed Mar 24, 2009.

8 Staff costs

 

      2008
£m
   2007
£m
   2006
£m

Salaries and accrued incentive payments

   6,273    6,993    6,635

Social security costs

   464    508    502

Pension costs – defined contribution plans

   237    141    128

Pension costs – defined benefit plans (Note 30)

   89    150    282

Other post-retirement benefits (Note 30)

   1    10    30

Other

   715    603    592

Staff costs

   7,779    8,405    8,169

Included in salaries and incentive payments is £257m (2007: £551m, 2006: £640m) arising from equity settled share-based payments, of which £23m (2007: £60m, 2006: £78m) is a charge related to options-based schemes. Also included is £3m (2007: £8m, 2006: £6m) arising from cash settled share-based payments.

The average number of persons employed by the Group worldwide during the year was 151,500 (2007: 128,900, 2006: 118,600).

This excerpt taken from the BCS 6-K filed Feb 9, 2009.

Staff Costs

 

Year Ended
31.12.08

Year Ended
31.12.07

 

£m

£m

Salaries and accrued incentive payments

6,273

6,993

Social security costs

464

508

Pension costs

 

 

– defined contribution plans

237

141

– defined benefit plans

89

150

Other post retirement benefits

1

10

Other

715

603

Staff costs

7,779

8,405



Staff costs decreased 7% (£626m) to £7,779m (2007: £8,405m). Salaries and accrued incentive payments fell overall by 10% (£720m) to £6,273m (2007: £6,993m), after absorbing increases of £718m relating to in year hiring and staff from acquisitions. Performance related costs were 48% lower, driven mainly by Barclays Capital.

Defined benefit plan pension costs decreased 41% (£61m) to £89m (2007: £150m). This was due to recognition of actuarial gains, higher expected return on assets and reduction in past service costs partially offset by higher interest costs and reduction in curtailment credit.


 

This excerpt taken from the BCS 6-K filed Feb 9, 2009.

Staff Costs

 

     Year Ended
31.12.08

£m
   Year Ended
31.12.07

£m
     

Salaries and accrued incentive payments

   6,273    6,993

Social security costs

   464    508

Pension costs

     

– defined contribution plans

   237    141

– defined benefit plans

   89    150

Other post retirement benefits

   1    10

Other

   715    603
         

Staff costs

   7,779    8,405

Staff costs decreased 7% (£626m) to £7,779m (2007: £8,405m). Salaries and accrued incentive payments fell overall by 10% (£720m) to £6,273m (2007: £6,993m), after absorbing increases of £718m relating to in year hiring and staff from acquisitions. Performance related costs were 48% lower, driven mainly by Barclays Capital.

Defined benefit plan pension costs decreased 41% (£61m) to £89m (2007: £150m). This was due to recognition of actuarial gains, higher expected return on assets and reduction in past service costs partially offset by higher interest costs and reduction in curtailment credit.

 

 

Barclays PLC – 2008 Results

  79  

 

LOGO


Table of Contents

Notes

 

 

 

This excerpt taken from the BCS 6-K filed Aug 7, 2008.

Staff Costs

 

     Half Year Ended
     30.06.08    31.12.07     30.06.07
     £m    £m     £m

Salaries and accrued incentive payments

   3,193    3,137     3,856

Social security costs

   247    207     301

Pension costs

       

– defined contribution plans

   84    70     71

– defined benefit plans

   43    73     77

Other post retirement benefits

   15    (2 )   12

Other

   306    339     264
               

Staff costs

   3,888    3,824     4,581

Staff costs decreased 15% (£693m) to £3,888m (2007: £4,581m). Salaries and accrued incentive payments fell 17% (£663m) to £3,193m (2007: £3,856m), reflecting lower performance related costs in Barclays Capital.

Defined benefit plan pension costs decreased 44% (£34m) to £43m (2007: £77m). This was due to recognition of actuarial gains, higher expected return on assets and reduction in past service costs; partially offset by higher interest costs.

 

 

   72    LOGO


Table of Contents

Notes to the Condensed Consolidated Interim Financial Statements

 

 

This excerpt taken from the BCS 20-F filed Mar 26, 2008.

8 Staff costs

 

      2007
£m
   2006
£m
   2005
£m

Salaries and accrued incentive payments

   6,993    6,635    5,036

Social security costs

   508    502    412

Pension costs – defined contribution plans

   141    128    76

Pension costs – defined benefit plans (Note 30)

   150    282    271

Other post-retirement benefits (Note 30)

   10    30    27
Other    603    592    496

 

Staff costs

   8,405    8,169    6,318

Included in salaries and incentive payments is £551m (2006: £640m, 2005: £338m) arising from equity settled share-based payments, of which £60m (2006: £78m, 2005: £44m) is a charge related to options-based schemes. Also included is £8m (2006: £6m, 2005: £nil) arising from cash settled share-based payments.

The average number of persons employed by the Group worldwide during the year was 128,900 (2006: 118,600, 2005: 92,800).

This excerpt taken from the BCS 6-K filed Feb 19, 2008.

Staff costs

 

     2007
£m
   2006
£m

Salaries and accrued incentive payments

   6,993    6,635

Social security costs

   508    502

Pension costs

     

- defined contribution plans

   141    128

- defined benefit plans

   150    282

Other post retirement benefits

   10    30

Other

   603    592
         

Staff costs

   8,405    8,169
         

Staff costs increased 3% (£236m) to £8,405m (2006: £8,169m).

Salaries and accrued incentive payments rose 5% (£358m) to £6,993m (2006: £6,635m), reflecting increased permanent and fixed term staff worldwide.

Defined benefit plans pension costs decreased 47% (£132m) to £150m (2006: £282m). This was mainly due to lower service costs.

This excerpt taken from the BCS 6-K filed Sep 14, 2007.

Staff costs

 

     30.06.07    31.12.06    30.06.06
     £m    £m    £m

Salaries and accrued incentive payments

   3,856    3,271    3,364

Social security costs

   301    210    292

Pension costs

        

- defined contribution plans

   71    73    55

- defined benefit plans

   77    140    142

Other post retirement benefits

   12    15    15

Other

   264    313    279
              

Staff costs

   4,581    4,022    4,147
              

Staff costs increased 10% (£434m) to £4,581m (2006: £4,147m).

Salaries and accrued incentive payments rose 15% (£492m) to £3,856m (2006: £3,364m), largely reflecting incremental performance related costs in Barclays Capital associated with strong results.

Defined benefit plans pension costs have decreased 46% (£65m) to £77m (2006: £142m). This has been caused by changed assumptions leading to falling service costs and an increase in the expected return on scheme assets.

 

46


Table of Contents

BARCLAYS PLC

RESULTS BY NATURE OF INCOME AND EXPENSE

 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki