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Anger As Lloyds Plans To Axe 1200 Uk Jobs

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Will be a lot more than 1200, bet those jobs outsourced to UK companies will be shipped off elsewhere once the facilities/staff are in place.

Wonder what it is like working in a financial boiler room and then getting boiled partly as a result fo your own actions?

Bit like a financial neutron bomb - leaves all the directors in tact and kills everybody else.

http://www.heraldscotland.com/news/home-news/anger-as-lloyds-plans-to-axe-1200-uk-jobs-1.1091168

Anger as Lloyds plans to axe 1200 UK jobs

MARTIN WILLIAMS

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18 Mar 2011

UNIONS yesterday condemned Lloyds Banking Group’s moves to offshore 5000 posts at the expense of British workers, as the company announced it was to axe a further 570 jobs, including 90 in Scotland.

The fresh cuts will be made in the part taxpayer-owned bank’s wholesale, retail, insurance and human resources divisions.

The group, which formed after Lloyds bought out Halifax Bank of Scotland two years ago, is also to offload 600 posts, including 135 in Scotland, to outsourcing companies within the UK.

Unions warned the move could mean staff transferring between functions, being downgraded or moving to other sites.

António Horta-Osório, the new chief executive of Lloyds Banking Group, angered unions with the new wave of cuts, which takes the total number of jobs lost since the merger to 26,770.

Edited by OnlyMe

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Oh well, sucks to be an ostrich bank employee and have your head forcefully pulled out of the sand.

How do you think these multimillion pound bonuses are continuing to be paid out?

well, first off, you cut costs...and if that doesnt cover it, you ask Merv for a loan...no collateral apart from Ponzi securites required.

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Will be a lot more than 1200, bet those jobs outsourced to UK companies will be shipped off elsewhere once the facilities/staff are in place.

Wonder what it is like working in a financial boiler room and then getting boiled partly as a result fo your own actions?

Bit like a financial neutron bomb - leaves all the directors in tact and kills everybody else.

http://www.heraldsco...-jobs-1.1091168

Anger as Lloyds plans to axe 1200 UK jobs

MARTIN WILLIAMS

Share

18 Mar 2011

UNIONS yesterday condemned Lloyds Banking Group's moves to offshore 5000 posts at the expense of British workers, as the company announced it was to axe a further 570 jobs, including 90 in Scotland.

The fresh cuts will be made in the part taxpayer-owned bank's wholesale, retail, insurance and human resources divisions.

The group, which formed after Lloyds bought out Halifax Bank of Scotland two years ago, is also to offload 600 posts, including 135 in Scotland, to outsourcing companies within the UK.

Unions warned the move could mean staff transferring between functions, being downgraded or moving to other sites.

António Horta-Osório, the new chief executive of Lloyds Banking Group, angered unions with the new wave of cuts, which takes the total number of jobs lost since the merger to 26,770.

Preparing for the sell off to his chums over at Santander.

They mean it when they say "Together, we are Santander" in their advertising.

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I`m sure I read many years ago that Winston Churchill said a Company had three priorities.

1. Making a profit so as to reward their Shareholders.

2. To pay a fair wage to their Employees.

3. To expand their business so as to create more jobs and produce higher dividends for their shareholders.

He left the world in 1965 before he could see what was about to happen in the future as we witness today.

I must admit my respect goes to all those old politicians across the whole political spectrum. <_<

It`s nice to see that companies like John Lewis are still around.

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Preparing for the sell off to his chums over at Santander.

They mean it when they say "Together, we are Santander" in their advertising.

"Together with concealed Satan?"

Satan dern

(dern means 'hidden' / 'con-cealed')

Edited by erranta

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yet for specialist IT jobs in London Lloyds have a fair few greenfield roles circa £600+ per day (damn those pesky recruitment agents always ringing)

Yeah and the phones are also ringing off the hook in India, so make hay whilst the sun still shines. ;)

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Well today it's different and a Company has three new priorities.

1. Making a profit (short term) to pay large Directors' bonuses

2. Pay the NMW to all employees

3. Outsource every job and function to China, India or wherever is cheapest.

+1...you forgot pay no tax anywhere in the world

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yet for specialist IT jobs in London Lloyds have a fair few greenfield roles circa £600+ per day (damn those pesky recruitment agents always ringing)

I've not met an IT role yet that I couldn't offshore given adequate time to do knowledge transfer.

Back to the original article; Northgate will operate an onshore/offshore model of around 15%/85%, at an educated guess.

Strictly-speaking, the roles haven't been axed, just relocated to a different location. Depending on your political hue it's either the purest form of capitalism as the market is working efficiently or it's a great form of socialism as the wealth is shared with workers lower down the food chain. You choose.

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leave lloyds if you are banking with them

join a bank that hasn't floated on the stock market

I have done exactly that, and my ISA will be withrawn ASAP.

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I have done exactly that, and my ISA will be withrawn ASAP.

Which financial institute did you join that definitely has no outsource or offshore contracts?

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  • 277 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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