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Realistbear

1000 Jobs To Go At Barclays Retail Banking

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http://uk.finance.yahoo.com/news/Barclays-1000-Jobs-Cut-And-skynews-532162235.html?x=0

Barclays: 1000 Jobs Cut And FSA Fine
Barclays (LSE: BARC.L - news) has announced it plans to axe around 1,000 jobs in its UK retail division while its investment banking arm has been fined by the financial regulator.
The high-street bank said it will be moving its financial planning advice service online due to a continuing move by consumer to manage their investments over the internet.

The jobs cuts are rolling now-we need a pinned thread on this?

Edited by Realistbear

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They're made their money and sucked the country dry, why still operate here?

If Merv has to do another round of QE they will be here to sop that up too--monster bonuses for 2011 paid for by HM Taxpayers.

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How strange that it's the retail not investment arm that's getting the cull? These guys have no scruples in even shafting their colleagues when protecting their own.

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I think this must be part of the private sector creating the jobs to take up the slack when the public sector lays people off NOT

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http://uk.finance.yahoo.com/news/Barclays-1000-Jobs-Cut-And-skynews-532162235.html?x=0

Barclays: 1000 Jobs Cut And FSA Fine
Barclays (LSE: BARC.L - news) has announced it plans to axe around 1,000 jobs in its UK retail division while its investment banking arm has been fined by the financial regulator.
The high-street bank said it will be moving its financial planning advice service online
due to a continuing move by consumer to manage their investments over the internet.

The jobs cuts are rolling now-we need a pinned thread on this?

....And possibly due to a continuing and highly-justified public mistrust of anyone flogging you anything on commission.

Edited by juvenal

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http://uk.finance.yahoo.com/news/Barclays-1000-Jobs-Cut-And-skynews-532162235.html?x=0

Barclays: 1000 Jobs Cut And FSA Fine

Barclays (LSE: BARC.L - news) has announced it plans to axe around 1,000 jobs in its UK retail division while its investment banking arm has been fined by the financial regulator.

The high-street bank said it will be moving its financial planning advice service online due to a continuing move by consumer to manage their investments over the internet.

The jobs cuts are rolling now-we need a pinned thread on this?

... were these not the FAs who sold the investments in Branches to pensioners for which Barclays were heavily fined by the FSA and are required to reimburse those who lost money...?...had to go this element ...the Bank is transferring to the internet such services....like to see some of the big boys fall if this is the case ....they are the one's responsible ....and are still there...... :rolleyes:

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If Merv has to do another round of QE they will be here to sop that up too--monster bonuses for 2011 paid for by HM Taxpayers.

Read the head of equities at Schroders was imploring the 'Koalishon' not to be harsh on the banksters and that government should keep out of banks' business.

Quite agree. We should've let them go to the wall 2 years ago without the taxpayer picking up the tab - ah but that's when they want intervention when the goodies like QE and bailouts are being doled out.

When are the British going to wake up to the bankster double-speak!?

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Read the head of equities at Schroders was imploring the 'Koalishon' not to be harsh on the banksters and that government should keep out of banks' business.

Quite agree. We should've let them go to the wall 2 years ago without the taxpayer picking up the tab - ah but that's when they want intervention when the goodies like QE and bailouts are being doled out.

When are the British going to wake up to the bankster double-speak!?

....the Banks were mainly Scottish and NE based.... what else could a weak Scottish chancellor do ...?...yep Gordo took out our cheque book and signed it blindly.... :rolleyes:

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How strange that it's the retail not investment arm that's getting the cull? These guys have no scruples in even shafting their colleagues when protecting their own.

I was thinking the same! :huh:

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18:27, Wednesday 26 January 2011
LONDON (
Reuters
) - Internet and phone provider TalkTalk Telecom Group said Wednesday it was cutting around
580 jobs
, or 13 percent of its workforce, in a restructuring to improve margins.

1580 jobs cut today. :(

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It's all good. Banking sector far too big.

Sorry about the people. Perhaps their superior banking brains can be put to more worthwhile pursuits.

I doubt these are the same bosses and traders who did the deals that made the bank insolvent and who are currently enjoying generous bonuses thanks to BoE monetary policy.

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Will go some way to covering Bob Diamond's 'I'm Worth It' bonus.

Scummiest of the scum.

Or as Dave likes to put it 'We need to get behind the bankers and move on'.

Perhaps sitting in a JCB Dave.

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I doubt these are the same bosses and traders who did the deals that made the bank insolvent and who are currently enjoying generous bonuses thanks to BoE monetary policy.

That is why they should separate them and bring in more competition so that no organisation can ever again be that big that they can't fail...bad business should fail. ;)

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This is about branch based advisors in the Barclays Wealth Management business. If you had an inheritance you wanted to invest, or needed some help with ISA's or other investments these are the people that Barclays would have directed you towards. The employees affected are neither masters of the universe nor commission-hungry spivs FWIW.

I suspect that they've decided to can the business because:

1) They think that the risks of getting flayed alive (fined/censured) by the FSA for mis-selling outweigh the rewards (profitability) that they can generate

2) Forthcoming regulatory changes (the "RDR") threaten their revenue generation model

3) The same changes will require adviser staff to be more highly qualified in future (therefore higher salaries, training costs, monitoring etc)

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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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