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More Abbey Job Cuts?

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After announcing 4,000 job cuts the Abbey Mortgage Bank, analysts now predicting another 2,500 job losses.

Analysts at Merrill Lynch said on Thursday they expect 2,500 job cuts in the next two years on top of this year's 4,000. JP Morgan recently forecast cuts of 6,500 was more realistic than the 4,000 target.

What’s going on, you’d think they were expecting a crash in house prices are they mad?

The Abbey habit :blink:

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After announcing 4,000 job cuts the Abbey Mortgage Bank, analysts now predicting another 2,500 job losses.

What’s going on, you’d think they were expecting a crash in house prices are they mad?

The Abbey habit :blink:

Why employ Brits when Spaniards can do the same job? Inevitable since the takeover. I know quite a few people who have lost their jobs at the Abbey. Mind you, it's a real sh*t place to work, so I don't think most of them were too fussed to move on.

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Why employ Brits when Spaniards can do the same job? Inevitable since the takeover. I know quite a few people who have lost their jobs at the Abbey. Mind you, it's a real sh*t place to work, so I don't think most of them were too fussed to move on.

I remember reading that your average Spaniard receives four times the redundancy package the average Brit receives. Perhaps that also determines where the axe falls.

NDL

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After announcing 4,000 job cuts the Abbey Mortgage Bank, analysts now predicting another 2,500 job losses.

What’s going on, you’d think they were expecting a crash in house prices are they mad?

The Abbey habit :blink:

Over the last few years consumer consumption has been excessively inflated by the confidence instilled by rising house prices and excessive borrowing.

This consumption is now falling, and with it the jobs that were required to sustain that same consumption are now going.

That's the economic cycle for you. Expect Britain to be the sick man of Europe for years to come.

Edited by BandWagon

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buisness is gonna get agressive in consolidation.Expect a lot of mergers and takeovers in the coming couple years., as the strong eat the weak.

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Why employ Brits when Spaniards can do the same job? Inevitable since the takeover. I know quite a few people who have lost their jobs at the Abbey. Mind you, it's a real sh*t place to work, so I don't think most of them were too fussed to move on.

What a disgraceful comment...pathetic. BSCH isn´t taking jobs from the UK to Spain. BSCH is just streamlining the Abbey and revamping it...and they will even if it takes a bit of pain.

Maybe BSCH can show quite a lot of how to provide excellent customer service.

Honestly, CS at branches in the UK isn´t up to scratch compared to the CS you get in Spain.

BSCH are very pushy, very aggressive and very ambitious...don´t disdain Spaniards. Britons who really know Spain and Spaniards know we are really hard-working and can compete with anyone.

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I remember reading that your average Spaniard receives four times the redundancy package the average Brit receives. Perhaps that also determines where the axe falls.

NDL

Another pitiful comment...how ignorant and prejudiced you are...NMWs in Spain are 50% lower than in the UK and redundancy packages are paid according to the wages...otherwise many companies would already be declared bankrupt. You receive something like 75% of your last salary from the Spanish government for a very limited time.

Actually, your average Spaniard receives much less money than your average Briton.

The reason for the redundancies are very simple: A British business was mismanaged by British managers and talented and ambitious (and very greedy, ofcourse) Spaniards have come to the rescue. Be grateful. After the Abbey is revamped, it will never look back again.

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  • 302 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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