Lloyds chopping job

[Otispunkmeyer]

Excuse my ignorance on this please, but...

I just heard on the news that Lloyds will be culling jobs to save 1.5bn

Im not sure where Lloyds sits in the banks, is it just a retail thing? If it is then I can understand the cuts, but if its in with the other rabble then how can they justify kicking people out the door to save money when earlier on they were lavishing themselves with nice bonus payments?

Again I dont know where Lloyds sits other than it being part of the HBOS group

[Bing o]

Otispunkmeyer said:

Excuse my ignorance on this please, but...

I just heard on the news that Lloyds will be culling jobs to save 1.5bn

Im not sure where Lloyds sits in the banks, is it just a retail thing? If it is then I can understand the cuts, but if its in with the other rabble then how can they justify kicking people out the door to save money when earlier on they were lavishing themselves with nice bonus payments?

Again I dont know where Lloyds sits other than it being part of the HBOS group

The purpose of a bank is to make money for it's shareholders. Lloyds bank is not making any money. It's management team have identified that it can lose 15,000 middle managers through efficiency saves/consolidation to help them make more money through reducing their cost base. The people who have decided on this strategy to make £1.5bio more money for their shareholders will be reqarded with maybe 1% of that. Which they will pay income tax on. And Lloyds will also pay corporation tax on the profits made. My thoughts are with the 15,000 who will be losing their jobs, but that's working in the private sector for you.

[turbobloke]

Wurls said:

For Bankers (and I am one), the Lloyds people are a nice bunch. At the personal level they have suffered more than most. Pre HBOS(hit) "merger", Lloyds was a decent, low risk if slightly boring institution. As is said above, I feel for the employees.

IIRC that 'merger' had the deft dead hand of Gordon Clown all over it.

[Fittster]

turbobloke said:

Wurls said:

For Bankers (and I am one), the Lloyds people are a nice bunch. At the personal level they have suffered more than most. Pre HBOS(hit) "merger", Lloyds was a decent, low risk if slightly boring institution. As is said above, I feel for the employees.

IIRC that 'merger' had the deft dead hand of Gordon Clown all over it.

Is there any evidence that Brown did anymore that remove some competition law to allow the merger. It was the execs in charge who hung the shareholders with their gross incompetence.

Where the Lloyds bosses to weak to say no to Gordon Brown when or did they think it was a good opportunity which turn out to be a spectacular mistake.

[turbobloke]

Fittster said:

turbobloke said:

Wurls said:

For Bankers (and I am one), the Lloyds people are a nice bunch. At the personal level they have suffered more than most. Pre HBOS(hit) "merger", Lloyds was a decent, low risk if slightly boring institution. As is said above, I feel for the employees.

IIRC that 'merger' had the deft dead hand of Gordon Clown all over it.

Is there any evidence that Brown did anymore that remove some competition law to allow the merger. It was the execs in charge who hung the shareholders with their gross incompetence.

Where the Lloyds bosses to weak to say no to Gordon Brown when or did they think it was a good opportunity which turn out to be a spectacular mistake.

Gordon Clown said:

je ne regrette rien

^^^