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Lloyds Plans 3000 Job Cuts

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Don't worry, there's plenty of zero hour positions available. The tax payer will top these guys up. Just throw it on the debt pile that's costing us £1.4Bn a week in interest - the media have only reported on this once in the last 5 years....nobody's paying attention....

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Nothing to do with recovery , recession or Brexit as a good and detailed thread on here has discussed white collar automation will destroy millions of jobs .

The banks were behind because of the 2008 crash but are investing and this is the result

The average visitors a bank branch gets a day is less than 90 which will also affect back room staff

Edited by Greg Bowman

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3,000 more potential entrepreneurs to get into BTL, innit?

Just rent it out and raise the rent for mad gainz innit

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Nothing to do with recovery , recession or Brexit as a good and detailed thread on here has discussed white collar automation will destroy millions of jobs .

The banks were behind because of the 2008 crash but are investing and this is the result

The average visitors a bank branch gets a day is less than 90 which will also affect back room staff

I had a call from my bank branch offering me to "come in for a chat and discuss better savings options". I said "coming in for a chat" is knocking a good 2 hours out of my day, and you can only ever offer me non-negotiable "savings products" which are already listed on your website".

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I had a call from my bank branch offering me to "come in for a chat and discuss better savings options". I said "coming in for a chat" is knocking a good 2 hours out of my day, and you can only ever offer me non-negotiable "savings products" which are already listed on your website".

LOL exactly !!!

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Yes automation. Lloyds profits are up - they are not zapping all these poor people* because they can't afford them they are doing it because they don't need them.

*before someone says "but they are only evil banksters", most of those 3000 will just be poorly paid branchdroids who will now struggle even harder to fund their BTLer's Range Rover lease.

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"come in for a chat and discuss better savings options".

My question would be 'do you sell gold? If not, I'm not coming in'.

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Isnt this old news

These are an additional 3000 jobs to those previously announced.

It is inevitable I'd think, the only time I go into a branch is to pay in cheques. Even luddites like my parents only go into a branch about once a year nowadays.

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I don't even like going in because it feels like all their heads are turning and eyes zooming on a source of fresh meat to be sold something. It's like those zombie films.

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Also company valuations are funny.

Lloyds p/e ratio of 6, ARM holdings p/e ratio of 70.

Lloyds £2b profit this half year, ARM Holdings £150m profits this quarter, annual sales around £1b..

Lloyds dividend roughly 5%, ARM Holdings roughly 0%.

No doubt ARM is more exciting but surely Lloyds would be a better buy if you had loads of money to spend taking over a company?

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Horta-Osório was speaking as the bank reported a doubling of first half pre-tax profits to £2.5bn. He focused on the underlying profits – which exclude restructuring costs and other items – which were down 5% at £4.1bn.

They're actually doing pretty well. As others have said, this isn't anything to do with Brexit, this is about structural changes in the banking industry. Even if it was anything to do with Brexit, there's no way an organization the size of Lloyds could prep and agree a plan to cut 3000 jobs in just a little over a month, this one has been brewing for ages.

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I don't even like going in because it feels like all their heads are turning and eyes zooming on a source of fresh meat to be sold something. It's like those zombie films.

I feel like that going into any shop thinking about it.

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They're actually doing pretty well. As others have said, this isn't anything to do with Brexit, this is about structural changes in the banking industry. Even if it was anything to do with Brexit, there's no way an organization the size of Lloyds could prep and agree a plan to cut 3000 jobs in just a little over a month, this one has been brewing for ages.

Opportunism at its finest.

Lloyds latest Directors Group Meeting - Confidential Minutes:

"Antonio - why not get rid of this lot and blame it on Brexit ?"

"Rapido Rapido - Arriba arriba !!"

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Also company valuations are funny.

Lloyds p/e ratio of 6, ARM holdings p/e ratio of 70.

Lloyds £2b profit this half year, ARM Holdings £150m profits this quarter, annual sales around £1b..

Lloyds dividend roughly 5%, ARM Holdings roughly 0%.

No doubt ARM is more exciting but surely Lloyds would be a better buy if you had loads of money to spend taking over a company?

Haha, I don't get it either. I bought some Lloyds yesterday because I thought they'd report decent numbers and increase the dividend. They managed to do both and the share price goes down :blink:

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They managed to do both and the share price goes down

Buy the rumour. Sell the news. Fairly typical.

Edited by Errol

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