Nothing about HSBC, the job cuts and possibly leaving?
Discussion
Du1point8 said:
Of the several thousand in the HSBC cull, many actually want to go as they are nearing or about 55 so are taking the golden handshake and early retirement.
f
king Tories and their ruining of business.... Oh wait, its something that they do every few years, I have been through it twice and you wouldn't believe how excited some of the over 50s are, then shouting me me... when it comes to the culling.
Yup, ~30yrs service, final salary pension. Ching ching!f
king Tories and their ruining of business.... Oh wait, its something that they do every few years, I have been through it twice and you wouldn't believe how excited some of the over 50s are, then shouting me me... when it comes to the culling.
Fittster said:
Boots employee 200,000+ people? Seems a bit unlikely to me.
That could be the entire co. post merger. Alliance-Boots plus Walgreens.The 700 jobs will be from the head office in Nottingham and is about half of those employed there.
Boot's was a pioneer in production techniques and working environment and, if memory serves, one the first to reduce shifts to 5 days but not reduce pay.
Du1point8 said:
Flip Martian said:
Some of the posts in here do nothing at all to dispel the stereotype "banker" people have in their heads. Fancy that.
What is your idea of banker and the stereotype?Timmy40 said:
Du1point8 said:
Flip Martian said:
Some of the posts in here do nothing at all to dispel the stereotype "banker" people have in their heads. Fancy that.
What is your idea of banker and the stereotype?Disposition - psycho.
Du1point8 said:
What is your idea of banker and the stereotype?
All depends which area of banking. There's a certain arrogance in many "city types" I've come across that is quite unpleasant. Belief in oneself is not a bad thing - quite the opposite - but couple that with a dismissal of the idea that not everyone can work as hard as them/earn similar amounts to them/has the same skill set needed to do what they do/be a financial "success", and a general lack of compassion for anything other than themselves, and its hardly surprising they're a popular target for a declining press trying to maintain readership figures.Flip Martian said:
Du1point8 said:
What is your idea of banker and the stereotype?
All depends which area of banking. There's a certain arrogance in many "city types" I've come across that is quite unpleasant. Belief in oneself is not a bad thing - quite the opposite - but couple that with a dismissal of the idea that not everyone can work as hard as them/earn similar amounts to them/has the same skill set needed to do what they do/be a financial "success", and a general lack of compassion for anything other than themselves, and its hardly surprising they're a popular target for a declining press trying to maintain readership figures.Ali G said:
Timmy40 said:
Du1point8 said:
Flip Martian said:
Some of the posts in here do nothing at all to dispel the stereotype "banker" people have in their heads. Fancy that.
What is your idea of banker and the stereotype?Disposition - psycho.
But the public don't get this.
In my experience the stereo-type above is actually quite accurate, at least in FX/ Commodities trading. But that's a tiny tiny tiny proportion of the UK banking industries headcount, which is huge.
Timmy40 said:
Ali G said:
Timmy40 said:
Du1point8 said:
Flip Martian said:
Some of the posts in here do nothing at all to dispel the stereotype "banker" people have in their heads. Fancy that.
What is your idea of banker and the stereotype?Disposition - psycho.
But the public don't get this.
In my experience the stereo-type above is actually quite accurate, at least in FX/ Commodities trading. But that's a tiny tiny tiny proportion of the UK banking industries headcount, which is huge.
Some high up managers in back office Investment banking might get up to £40-50k bonus, but they are few and far between and they usually manage loads of people.
Timmy40 said:
The thing is though HSBC has a very small investment bank, so actually the 8,000 job losses will be ordinary working types on modest salaries who happen to work in an open plan office shuffling paper for a bank, instead of a mobile phone company, hospital trust or estate agency.
But the public don't get this.
In my experience the stereo-type above is actually quite accurate, at least in FX/ Commodities trading. But that's a tiny tiny tiny proportion of the UK banking industries headcount, which is huge.
I do know someone in banking who told me the same, yes. Her and her colleagues earn modest salaries and are pretty fed up with being compared to the stereotype.But the public don't get this.
In my experience the stereo-type above is actually quite accurate, at least in FX/ Commodities trading. But that's a tiny tiny tiny proportion of the UK banking industries headcount, which is huge.
Timmy40 said:
The thing is though HSBC has a very small investment bank, so actually the 8,000 job losses will be ordinary working types on modest salaries who happen to work in an open plan office shuffling paper for a bank, instead of a mobile phone company, hospital trust or estate agency.
But the public don't get this.
In my experience the stereo-type above is actually quite accurate, at least in FX/ Commodities trading. But that's a tiny tiny tiny proportion of the UK banking industries headcount, which is huge.
It's important to make that distinction. There's a difference between someone who works in a bank and "a banker". If it's the former that are losing their jobs that's a tragedy and they are the unfortunate victims of this. The people who work in the branches are not the ones who "brought down the banking system" TMBut the public don't get this.
In my experience the stereo-type above is actually quite accurate, at least in FX/ Commodities trading. But that's a tiny tiny tiny proportion of the UK banking industries headcount, which is huge.
From memory HSBC did something similar a couple of years ago. Making thousands of global redundancies despite stupendous profits.
And this year, "HSBC has said 2014 was a "challenging year" after reporting a 17% drop in profit to $18.7bn (£12.2bn)."
Yes, a 17% drop, but twelve billion profit. TWELVE. BILLION. (Presumably that's U.S. Billion not the proper one but still) A hell of a lot of money.
And what portion of the decline in profit, not loss, but decline in the phenomenal amount of profit made is due to problems caused by "the bankers"?
Well:
"The drop in profitability was driven by $2.4bn in fines and customer compensation costs, largely connected to fines in connection with traders' attempted manipulation of foreign exchange rates and compensation for the mis-selling of payment protection insurance."
So nothing to do with those who will lose their jobs then.
Hackney said:
Timmy40 said:
The thing is though HSBC has a very small investment bank, so actually the 8,000 job losses will be ordinary working types on modest salaries who happen to work in an open plan office shuffling paper for a bank, instead of a mobile phone company, hospital trust or estate agency.
But the public don't get this.
In my experience the stereo-type above is actually quite accurate, at least in FX/ Commodities trading. But that's a tiny tiny tiny proportion of the UK banking industries headcount, which is huge.
It's important to make that distinction. There's a difference between someone who works in a bank and "a banker". If it's the former that are losing their jobs that's a tragedy and they are the unfortunate victims of this. The people who work in the branches are not the ones who "brought down the banking system" TMBut the public don't get this.
In my experience the stereo-type above is actually quite accurate, at least in FX/ Commodities trading. But that's a tiny tiny tiny proportion of the UK banking industries headcount, which is huge.
From memory HSBC did something similar a couple of years ago. Making thousands of global redundancies despite stupendous profits.
And this year, "HSBC has said 2014 was a "challenging year" after reporting a 17% drop in profit to $18.7bn (£12.2bn)."
Yes, a 17% drop, but twelve billion profit. TWELVE. BILLION. (Presumably that's U.S. Billion not the proper one but still) A hell of a lot of money.
And what portion of the decline in profit, not loss, but decline in the phenomenal amount of profit made is due to problems caused by "the bankers"?
Well:
"The drop in profitability was driven by $2.4bn in fines and customer compensation costs, largely connected to fines in connection with traders' attempted manipulation of foreign exchange rates and compensation for the mis-selling of payment protection insurance."
So nothing to do with those who will lose their jobs then.
Stating $12 billion and then only making $1 billion in the uk doesnt mean very much at all, in fact it means you have a very poor UK HSBC year...
Hackney said:
Boot's was a pioneer in production techniques and working environment and, if memory serves, one the first to reduce shifts to 5 days but not reduce pay.
Indeed. My cousin moved from Rolls Royce to Boots - was puzzled by her decision at first (pretty hard to get into RR) but they sound like a decent company to work for.Hackney said:
It's important to make that distinction. There's a difference between someone who works in a bank and "a banker". If it's the former that are losing their jobs that's a tragedy and they are the unfortunate victims of this. The people who work in the branches are not the ones who "brought down the banking system" TM
From memory HSBC did something similar a couple of years ago. Making thousands of global redundancies despite stupendous profits.
And this year, "HSBC has said 2014 was a "challenging year" after reporting a 17% drop in profit to $18.7bn (£12.2bn)."
Yes, a 17% drop, but twelve billion profit. TWELVE. BILLION. (Presumably that's U.S. Billion not the proper one but still) A hell of a lot of money.
And what portion of the decline in profit, not loss, but decline in the phenomenal amount of profit made is due to problems caused by "the bankers"?
Well:
"The drop in profitability was driven by $2.4bn in fines and customer compensation costs, largely connected to fines in connection with traders' attempted manipulation of foreign exchange rates and compensation for the mis-selling of payment protection insurance."
So nothing to do with those who will lose their jobs then.
Clearly takes a special brand of From memory HSBC did something similar a couple of years ago. Making thousands of global redundancies despite stupendous profits.
And this year, "HSBC has said 2014 was a "challenging year" after reporting a 17% drop in profit to $18.7bn (£12.2bn)."
Yes, a 17% drop, but twelve billion profit. TWELVE. BILLION. (Presumably that's U.S. Billion not the proper one but still) A hell of a lot of money.
And what portion of the decline in profit, not loss, but decline in the phenomenal amount of profit made is due to problems caused by "the bankers"?
Well:
"The drop in profitability was driven by $2.4bn in fines and customer compensation costs, largely connected to fines in connection with traders' attempted manipulation of foreign exchange rates and compensation for the mis-selling of payment protection insurance."
So nothing to do with those who will lose their jobs then.
to run HSBC. Total and utter...It's not a British company the clue is in the name "Hongkong and Shanghai Banking Corporation" but that's largely irrelevant.
They launder for drug cartels, the bank of choice for despot's spoils and support deforestation via there ties with the largest timber conglomerates in the world. They close peoples accounts for supporting Palestinian charities and rip off their customers and refuse people like me access to our own cash, their employee's committed mass cooperate fraud by colluding to rig lending rates and fx rates and they invested $1billion with Bernie Madoff.
I don't think it's a great loss, do you?
They launder for drug cartels, the bank of choice for despot's spoils and support deforestation via there ties with the largest timber conglomerates in the world. They close peoples accounts for supporting Palestinian charities and rip off their customers and refuse people like me access to our own cash, their employee's committed mass cooperate fraud by colluding to rig lending rates and fx rates and they invested $1billion with Bernie Madoff.
I don't think it's a great loss, do you?
Flip Martian said:
Hackney said:
It's important to make that distinction. There's a difference between someone who works in a bank and "a banker". If it's the former that are losing their jobs that's a tragedy and they are the unfortunate victims of this. The people who work in the branches are not the ones who "brought down the banking system" TM
From memory HSBC did something similar a couple of years ago. Making thousands of global redundancies despite stupendous profits.
And this year, "HSBC has said 2014 was a "challenging year" after reporting a 17% drop in profit to $18.7bn (£12.2bn)."
Yes, a 17% drop, but twelve billion profit. TWELVE. BILLION. (Presumably that's U.S. Billion not the proper one but still) A hell of a lot of money.
And what portion of the decline in profit, not loss, but decline in the phenomenal amount of profit made is due to problems caused by "the bankers"?
Well:
"The drop in profitability was driven by $2.4bn in fines and customer compensation costs, largely connected to fines in connection with traders' attempted manipulation of foreign exchange rates and compensation for the mis-selling of payment protection insurance."
So nothing to do with those who will lose their jobs then.
Clearly takes a special brand of From memory HSBC did something similar a couple of years ago. Making thousands of global redundancies despite stupendous profits.
And this year, "HSBC has said 2014 was a "challenging year" after reporting a 17% drop in profit to $18.7bn (£12.2bn)."
Yes, a 17% drop, but twelve billion profit. TWELVE. BILLION. (Presumably that's U.S. Billion not the proper one but still) A hell of a lot of money.
And what portion of the decline in profit, not loss, but decline in the phenomenal amount of profit made is due to problems caused by "the bankers"?
Well:
"The drop in profitability was driven by $2.4bn in fines and customer compensation costs, largely connected to fines in connection with traders' attempted manipulation of foreign exchange rates and compensation for the mis-selling of payment protection insurance."
So nothing to do with those who will lose their jobs then.
to run HSBC. Total and utter...After costs the return on equity is wobbling about at round the 7.5% - 8% mark. The industry norm is 10%+. The board are rightly getting beaten up about this by their major investors who will take their money somewhere else if this problem doesn't get fixed. Therefore they look to sell/close down loss-making parts of the business.
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