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Realistbear

45,000 Jobs To Be Cut In Financial Sector Soon--Biggest Cull In 17 Years

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http://www.bloomberg.com/news/2011-01-10/u-k-financial-firms-may-cut-extra-45-000-jobs-cbi-survey-says.html

U.K. financial services companies will cut an estimated 45,000 jobs over six months as they sharpen the focus on lowering costs, Britain’s biggest business lobby group said.
Banks, insurers and other financial groups cut about 30,000 jobs in the final three months of 2010, the fastest decline for 17 years, Lai Wah Co, the Confederation of British Industry’s head of economic analysis, told reporters in London. A further 15,000 jobs may go in the first quarter of 2011, she said, before publication of the report today.

This mateys is THE TRIGGER.

Job losses will lay the bloated HPI monster to waste faster than all the other factors combined.

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is that all.

and have any gone yet?..been in power nearly a year the cameroon has.

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is that all.

and have any gone yet?..been in power nearly a year the cameroon has.

Many of them have been letting people go. But then re-hiring many on contracts instead.

Many of them have huge pieces of work ongoing just now. Much of it linked to the financial mess. Splitting stuff up, merging this with that blah blah.

Jobs all depend on what the big boys decide to do. In a few years once all the big programmes are out of the way - will they actually concentrate on making things more efficient ? Taking a back seat on acqusitions etc ? Or will they just head down the same path as previously and want to change everything constantly because they feel like it ?

If it is option #1 then job losses could be huge. If it is option #2 then more of the same. Minimal job losses.

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8 months, "nearly a year", same difference? Let's hope you never take up airliner design :rolleyes:

officially, but werent they in preparation 6 months before the election....you know, the books opened, plans made, schemes cooked?

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http://www.telegraph.co.uk/finance/jobs/8249191/Finance-sector-jobs-tumble-to-record-low.html

Jobs
Finance sector jobs tumble to
record low
Employment across the financial services sector will reach a record low this quarter after profits failed to meet hopes, according to a leading survey which will cause worries in the City.

A record broken unexpectedly.

So its profits not meeting expectations? There was a day when stocks rose on expectations or future earnings. Perhaps the FTSE will soon reflect a new reality.

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officially, but werent they in preparation 6 months before the election....you know, the books opened, plans made, schemes cooked?

I believe they were in preparation for about 13 years dear boy, but all that probably meant nothing when they took over and got to see the "real" state of affairs.

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I believe they were in preparation for about 13 years dear boy, but all that probably meant nothing when they took over and got to see the "real" state of affairs.

so true....Marvelous :lol:

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http://www.telegraph.co.uk/finance/jobs/8249191/Finance-sector-jobs-tumble-to-record-low.html

Jobs
Finance sector jobs tumble to
record low
Employment across the financial services sector will reach a record low this quarter after profits failed to meet hopes, according to a leading survey which will cause worries in the City.

A record broken unexpectedly.

So its profits not meeting expectations? There was a day when stocks rose on expectations or future earnings. Perhaps the FTSE will soon reflect a new reality.

There is a view that stock markets are not the usual predictor of 12 months hence, they generally have been. In fact some would say they are an unrealistic bubble themselves and have illogically risen against the back drop of a worsening debt crisis. The truth is that the rotten bank debt taken onto govt balance sheets has not disappeared and has actually increased enormously since the C Crunch began!

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is that all.

and have any gone yet?..been in power nearly a year the cameroon has.

These are private sector job losses and therefore nothing to do will cameron. However job losses on this scale will inevitably lead to a greater number of public sector job losses (eventually).

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I'm still being bombarded with emails from recruiters promising "excellent positions" in banking and financial services!

I have no background in this, so I am suspicious!

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These are private sector job losses and therefore nothing to do will cameron. However job losses on this scale will inevitably lead to a greater number of public sector job losses (eventually).

You spotted my deliberate error.

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I wonder how many of these jobs are being simply outsourced, rather than just eliminated.

A bit of a conundrum for some.

- Hate bankers, glad to see them go.

- Hate globalisation, worried that they might be outsourced.

- Love tax revenues, concerned that they will drop.

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This mateys is THE TRIGGER.

Job losses will lay the bloated HPI monster to waste faster than all the other factors combined.

This is the most bearish news of the year so far for house prices IMO

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A bit of a conundrum for some.

- Hate bankers, glad to see them go.

- Hate globalisation, worried that they might be outsourced.

- Love tax revenues, concerned that they will drop.

would it help if they were begging in the street

or we could use them as targets for live firing paintball type stuff.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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