Neil Woodford scraps 'largely ineffective' employee bonuses to discourage 'wrong behaviours'

Top Fund Manager Neil Woodford has decided to scrap bonuses, arguing that they do not correlate with performance of investment funds.

Woodford Investment Management will put all staff on a flat salary this year – which has been increased in light of terminating bonuses - to discourage “short-term” decision making, improve performance and focus on long-term returns.