Tuesday, Nov 10, 2009

Lloyds announces 5,000 job cuts

BBC: Lloyds announces 5,000 job cuts

Lloyds Banking Group is cutting 5,000 jobs

Posted by doomwatch @ 11:15 AM (1295 views)
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11 Comments

1. symo said...

So potentially 5,000 discounted mortgages about to increase in the monthly payments then. Vive la recovereh!

Tuesday, November 10, 2009 11:52AM Report Comment
 

2. hpwatcher said...

Expect more of this, especially when RBS collapses......which it will, very soon.

Tuesday, November 10, 2009 12:02PM Report Comment
 

3. str 2007 said...

hpwatcher

Did you mean that ?

Care to elaborate if you did ?

Tuesday, November 10, 2009 12:13PM Report Comment
 

4. mark said...

I agree with HP RBS is not safe, far from it,

now HSBC and Barclays are both good bets.. both are growing on the back of other peoples loses, these two will dominate the world soon..

Tuesday, November 10, 2009 12:22PM Report Comment
 

5. str 2007 said...

Won't they simply keep pumping the money until it does work.

Too big to fail and all that.

Tuesday, November 10, 2009 12:28PM Report Comment
 

6. jack c said...

hpwatcher/mark - I use RBS to pay all of my monthly bills having banked with them since they were Williams & Glynn's - please eloborate on how, why and when RBS are going to collapse?

Tuesday, November 10, 2009 12:30PM Report Comment
 

7. mark said...

jack c

they have no money, too much debt and are reliant on a bankrupt country to bail them out..

they took huge risks in real estate, risky assets etc

i wouldnt bank with them

Tuesday, November 10, 2009 12:36PM Report Comment
 

8. jack c said...

mark - if you are (in due course) correct - then this is the bit that really matters - "reliant on a bankrupt country to bail them out"

Tuesday, November 10, 2009 12:44PM Report Comment
 

9. hpwatcher said...

RBS is an absolute ruin, I just don't think that the government are going to be able to save it. It's a bottomless pit.

I think RBS would stand a better chance if the government didn't already have Lloyds/HBOS to worry about.

Tuesday, November 10, 2009 12:51PM Report Comment
 

10. jack c said...

hpwatcher - the Gov will need to ensure the ordinary account holders/depositors are adequately protected (which they have repeatedly stated they will do) otherwise we will end up with another bank run (Rock style) - my concern is that if there were to be another run, they might not be able to contain it.

Tuesday, November 10, 2009 01:08PM Report Comment
 

11. hpwatcher said...

hpwatcher - the Gov will need to ensure the ordinary account holders/depositors are adequately protected (which they have repeatedly stated they will do) otherwise we will end up with another bank run (Rock style) - my concern is that if there were to be another run, they might not be able to contain it.

I don't see the depositors losing out, the amounts are relatively marginal.

Tuesday, November 10, 2009 01:25PM Report Comment
 

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