£7BN profit? Time to cut the workforce...
Discussion
http://www.bbc.co.uk/news/business-14362471
When does this end? When we have one person and a field of supercomputers running all large companies?
When does this end? When we have one person and a field of supercomputers running all large companies?
DS3R said:
Corsair7 said:
Whats even worse is that the share price goes up on news of job cuts. Its stupid.
It's not stupid- it's the sign of a protifable business being proactively managed rather than sitting on their laurels when the going is good.The 700 jobs lost in the UK were mostly in the retail sector of HSBC, you know the part that makes very little money compared tot he investment side of HSBC.
HSBC investment are still hiring at the moment.
How many of the job losses are down to selling 195 branches in the US?
Its not really big news as they are a global power and people like to do scare mongering when they shut down or make dormant the areas that are losing money, though why they kept the US section for so long when they were constantly losing a £1 billion a year was beyond me...
HSBC investment are still hiring at the moment.
How many of the job losses are down to selling 195 branches in the US?
Its not really big news as they are a global power and people like to do scare mongering when they shut down or make dormant the areas that are losing money, though why they kept the US section for so long when they were constantly losing a £1 billion a year was beyond me...
Adrian W said:
THis has nothing to do with banking, but it does ask the question, when we end up with a world full of super lean companies and a huge amount of unemployed workers, what will happen?
In theory, that sounds like utopia. Instead what will happen is a return to the days of old- lower wages for the workers due to increased competition, higher profits for the owners/investors, and the destruction of the middle class.Of course for much of the world, it's been like that for centuries.
Pwig said:
No because it's been done this way for the past 400 years.
and now we are getting more and more efficient. instead of reducing the number of hours each worker works, we are reducing the number of workers.better to do it the other way around... more leisure time, more people earn their money rather than have it given to them.
?sinizter said:
If it can still be run in a similar fashion as when it employs more people, then why not ?
Because 30000 people will be unemployed - that puts a huge strain on society, on families and on the unemployed.HSBC doesnt owe anyone a living but I do wonder where it will all end if companies downsize when they've just posted £7 BILLION profit!
GeraldSmith said:
Is PH suddenly going all socialist? Let's roll back time to the 70s and nationalise everything, get rid of shareholders and the profit motive, get a bit of communism going. What was it? 'from each according to his ability, to each according to his need', Yes, that worked so well...
Socialism does not equal Communism; likewise Capatalism does not equal Fascism.vonuber said:
Socialism does not equal Communism; likewise Capatalism does not equal Fascism.
Well socialism is an economic system whist communism is a political and economic ideology. From the purely economic standpoint that is relevant to this thread socialism and communism are broadly the same thing both advocating public control of the means of production, hence my interchanging of the two terms. Of course socialism gets watered down these days into something more reminiscent of liberalism but that is largely due to the way in which socialist doctrine was discredited by the failure of experiments like the UKs nationalisation programme. Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff