Barclays To Axe 1,100 Jobs

[It is different this time]

I was listening for IR decision earlier on Radio 4 and heard about more than a thousand job losses @ Barclays, here is the story

Barclays to Axe Jobs

BARCLAYS TO AXE 1,100 JOBS

By James Morton

BARCLAYS have announced more than half its permanent workforce will be axed from its Poole base.

Staff were given the shock news this morning that 1,100 positions will be lost in Barclays House over the next three years.

Around 1,900 permanent staff are currently employed at the Poole building.

Barclays say the job losses are due to introduction of new initiatives and technology.

Great, charge customers for UK rate for services but ship out to India to provide it. Keep cutting the cost to feed your deep pocket but never mind the rest. Well miracle economy brings the miracle solutions!

[petetong]

Talk about sh*ting on your own patch :angry: Didn't a US econonmist recently say 8 million uk jobs could be outsourced in the long term. Glad I am relatively old fart, god help the young.

[Leonard Hatred]

They'll have no trouble finding another job with our strong economy, surely

[cells]

free trade is ********. it should be efficiency trade

if a country can do something more efficiently than you, then give them that job, if they can not do it more efficiently but do it cheaper don’t give them that job. simple rule for economic security

not a single call centre staff should be sacked if the jobs are going to India, since an Indian is not more efficient at the job than an Englishmen.

but if good voice recognition software is developed, sack the lot of them in favour of the technology

if we can only grow a tonne of wheat for a certain amount of time and energy, and in Africa 10 tonnes can be grown for the same time and energy because of climate reasons, then buy from them.

efficiency improves our lives, not shipping jobs to countries that can do things cheaper!

[LargelyIgnorant]

Banks sell 'products' - Coporate PC speak for debt.

The UK market for these 'products' is saturated.

The Chinese & Indian markets are huge and untapped.

[Dr Doom]

Banks sell 'products' - Coporate PC speak for debt.

The UK market for these 'products' is saturated.

The Chinese & Indian markets are huge and untapped.

It annoys me when banks talk about 'selling' loans, i.e. 'products'.

To make it sound less scummy than what it is, money-lending.

[chichi]

So how much is property in India?

[silver surfer]

So how much is property in India?

Cheaper than Poole, but the gap's narrowing.

[bomberbrown]

Cheaper than Poole, but the gap's narrowing.

Property prices soar in India - 10/05/07

[LargelyIgnorant]

Cheaper than Poole, but the gap's narrowing.

Acquaintance of mine bought a couple of acres in Goa about 10 years ago... Wish I'd thought of that!

IIRC the Indian government has introduced ownership restrictions for foreigners. You have to be an Indian resident for something like 6-12 months before you can buy.

[munimula]

I was listening for IR decision earlier on Radio 4 and heard about more than a thousand job losses @ Barclays, here is the story

Barclays to Axe Jobs

Great, charge customers for UK rate for services but ship out to India to provide it. Keep cutting the cost to feed your deep pocket but never mind the rest. Well miracle economy brings the miracle solutions!

OMG!

I live in Poole, rated as the most unaffordable place to buy a home in the UK. The worst earnings to house prices ratio....anywhere.

And there are very few decent paying employers in the area, Barclay's was one of them.

There simply aren't the jobs to replace these. Definitely a downward effect on house prices in the area. I wonder how many BTL's some of those employees have?

[skanked]

Acquaintance of mine bought a couple of acres in Goa about 10 years ago... Wish I'd thought of that!

IIRC the Indian government has introduced ownership restrictions for foreigners. You have to be an Indian resident for something like 6-12 months before you can buy.

Been to Goa - it`s f*cking nasty. Full of dodgy Indians trying to skank you left right and centre.

One Israeli girl given 30 years in Panaji jail, Goa for being in possession of a tiny amount of cannabis.

A few western women raped by Indians while I was there. :angry: New Year`s Eve `96 was way more violent than UK - dozens of p*ssed-up Indians going around with knives looking for westerners to cut up.

Lovely

Edited May 10, 2007 by skanked

[gordonbrown]

Been to Goa - it`s f*cking nasty. Full of dodgy Indians trying to skank you left right and centre.

One Israeli girl given 30 years in Panaji jail, Goa for being in possession of a tiny amount of cannabis.

A few western women raped by Indians while I was there. :angry: New Year`s Eve `96 was way more violent than UK - dozens of p*ssed-up Indians going around with knives looking for westerners to cut up.

Lovely

Lived there when I worked in Yemen. It was magic in the acid house days. Cheap drugs and pretty girls. It always had a dodgy side but if you were not a complete spoon it was pretty easy to avoid. Same as anywhere where the rules are a bit loose. Tend to be the most fun if you like that sort of thing and I do.

Edited May 10, 2007 by gordonbrown

[Ah-so]

free trade is ********. it should be efficiency trade

if a country can do something more efficiently than you, then give them that job, if they can not do it more efficiently but do it cheaper don’t give them that job. simple rule for economic security

not a single call centre staff should be sacked if the jobs are going to India, since an Indian is not more efficient at the job than an Englishmen.

but if good voice recognition software is developed, sack the lot of them in favour of the technology

if we can only grow a tonne of wheat for a certain amount of time and energy, and in Africa 10 tonnes can be grown for the same time and energy because of climate reasons, then buy from them.

efficiency improves our lives, not shipping jobs to countries that can do things cheaper!

What are you on about? I cannot see how you are trying to define "efficiency". Largely, price is the economic measure of "efficiency". How could there be any other? The only measure you can come up with is climatic, although I suppose you would also argue that countries with coastline would be better places to buy fish from than landlocked ones, and other gems of wisdom.

When you come up with 2 alternative prices for the same product, how do you go about choosing which one to use? Of course you would ignore the prices, and use efficiency instead. How about setting up "efficiencyrunner.com2, to compare efficiency regardless of price? This will help me choose the most efficient place to buy my digital camera.

Things are most efficiently sourced where they are cheapest.

[apom]

free trade is ********. it should be efficiency trade

if a country can do something more efficiently than you, then give them that job, if they can not do it more efficiently but do it cheaper don’t give them that job. simple rule for economic security

not a single call centre staff should be sacked if the jobs are going to India, since an Indian is not more efficient at the job than an Englishmen.

but if good voice recognition software is developed, sack the lot of them in favour of the technology

if we can only grow a tonne of wheat for a certain amount of time and energy, and in Africa 10 tonnes can be grown for the same time and energy because of climate reasons, then buy from them.

efficiency improves our lives, not shipping jobs to countries that can do things cheaper!

Be warned, in a truly global economy you will find yourself competing against the whole world for your own job.

You will find that there are an awful lot of them out there and many are hungry.

Technological developments punch straight through economic barriers.

[Nationalist]

The antidote to globalisation is nationalism.

When I'm Minister of Telecommunications I'll randomly unplug the phone lines to India for a few hours every day - then let's see where they put the call centres.

[ex-MEWer]

Been to Goa - it`s f*cking nasty. Full of dodgy Indians trying to skank you left right and centre.

One Israeli girl given 30 years in Panaji jail, Goa for being in possession of a tiny amount of cannabis.

A few western women raped by Indians while I was there. :angry: New Year`s Eve `96 was way more violent than UK - dozens of p*ssed-up Indians going around with knives looking for westerners to cut up.

Lovely

How dare you post such scurrilous nonsense! Anywhere is better than the UK ... isn't it?

[doom and gloom merchant]

What are you on about? I cannot see how you are trying to define "efficiency". Largely, price is the economic measure of "efficiency". How could there be any other? The only measure you can come up with is climatic, although I suppose you would also argue that countries with coastline would be better places to buy fish from than landlocked ones, and other gems of wisdom.

When you come up with 2 alternative prices for the same product, how do you go about choosing which one to use? Of course you would ignore the prices, and use efficiency instead. How about setting up "efficiencyrunner.com2, to compare efficiency regardless of price? This will help me choose the most efficient place to buy my digital camera.

Things are most efficiently sourced where they are cheapest.

I could buy a swordfish brand (chinese made) 13mm spanner for 10p and a stahlwille (german made) 13mm spanner for £10.

by your argument you would allways go for the 10p spanner ,but everytime I used it heavily it would snap, skin my knuckles and round off the nut making the job 10 times longer to do,I would then have to buy hundreds of them over the course of a lifetime.where as the £10 spanner would last a lifetime and make the jobs easier to do as it is reliable and allways fit for purpose. therefore the £10 spanner is the better deal.

Cheapest is not allways best.

[Xurbia]

Unless the employees take action this will continue. If the whole company just refused to work for a week it might help.

I'm surprised that these big companies have survived unscathed yet. Eventually some disgruntled employee will find a way to disable communications and disable a recovery. It wouldn't really take too many days to bankrupt one of these big organisations. Who knows, the individual might work in India?!

I expect Tony Blair will be back on the box saying something like "It's only inevitable that jobs will be lost to overseas".

[Mrliberty]

http://www.cashncarrion.co.uk/products/16262/0/

[john_d_uk]

Been to Goa - it`s f*cking nasty. Full of dodgy Indians trying to skank you left right and centre.

One Israeli girl given 30 years in Panaji jail, Goa for being in possession of a tiny amount of cannabis.

A few western women raped by Indians while I was there. :angry: New Year`s Eve `96 was way more violent than UK - dozens of p*ssed-up Indians going around with knives looking for westerners to cut up.

Lovely

Been to (Any UK city) - it`s f*cking nasty. Full of dodgy (Inhabitants) trying to skank you left right and centre.

Two Brits given a jail sentence for 'official secret act violations, whist PM murders Iraqi civilians and gets a hero's send off.

A few western women raped by (locals) while I was there. :angry: New Year`s Eve `06 was way more violent than anywhere- dozens of p*ssed-up Brtits going around with knives looking for anyone to cut up or shoot.

Rational arguement. Not.

[Shamus]

OMG!

I live in Poole, rated as the most unaffordable place to buy a home in the UK. The worst earnings to house prices ratio....anywhere.

And there are very few decent paying employers in the area, Barclay's was one of them.

There simply aren't the jobs to replace these. Definitely a downward effect on house prices in the area. I wonder how many BTL's some of those employees have?

Looks like Poole may slip back now with the loss of these jobs and income in the area. There will be more than 1000 people affected due to services in the town which will suffer especially in the Dolphin Centre. The pottery has packed up shop and I heard that Sunseeker are having a tough time.

There are also sh*tloads of flats being built right now. I wouldn't expect these workers to be buying them but the investors and BTLers out there will be having second thoughts in buying them now giving the reducing spending power of the people of Poole and their ability to pay the rent.

If I was in charge of the flat developments in the various areas of town at the moment then I would be getting worried that I may have to start slashing new build prices soon. The only people living in Poole soon will be the ultra rich and people on benefits as everyone else will be squeezed out!

[Ah-so]

I could buy a swordfish brand (chinese made) 13mm spanner for 10p and a stahlwille (german made) 13mm spanner for £10.

by your argument you would allways go for the 10p spanner ,but everytime I used it heavily it would snap, skin my knuckles and round off the nut making the job 10 times longer to do,I would then have to buy hundreds of them over the course of a lifetime.where as the £10 spanner would last a lifetime and make the jobs easier to do as it is reliable and allways fit for purpose. therefore the £10 spanner is the better deal.

Cheapest is not allways best.

Cheapest is not always best. Correct. This explains why a Ferrari brand car is better that a Ford Ka brand car, despite also having 4 wheels and an engine.

It is not however strictly relevant.

[time]

OMG!

I live in Poole, rated as the most unaffordable place to buy a home in the UK. The worst earnings to house prices ratio....anywhere.

And there are very few decent paying employers in the area, Barclay's was one of them.

There simply aren't the jobs to replace these.

Never mind. Cheer up.

[skanked]

How dare you post such scurrilous nonsense! Anywhere is better than the UK ... isn't it?

LOL