help; NATIONALISED B&B what will happen to my job

Kez100

I agree with the others you can choose to sink or swim. Don't make rash decisions but don't put your head in the sand. Consider all options you have rather than wallow in self pity. You know it's no slight on you so, be brave, believe in yourself and see it as an opportunity.

Gorgeous_George

I recently volunteered for redundancy but was turned down . It was more disappointing that when I was made redundant in the early 90s when I hadn't applied.

There is work for those that are prepared to do it and you just need to prepare for the worst - have a Plan B. Get your CV up to scratch, do any relevant training that you can and, above all else, smile. Look for the good things about life. There are far more of them than there are bad things.

GG

Mussidan

My daughter works for B & B in the marketing department. She has just landed this job after graduating and is very worried about the whole situation. Does anyone have any idea what will happen when they are nationalised?

dunstonh

Mussidan wrote: »

My daughter works for B & B in the marketing department. She has just landed this job after graduating and is very worried about the whole situation. Does anyone have any idea what will happen when they are nationalised?

Read the above and keep an eye on the news.

Everything suggests the B&B will cease as a brand and bits will be sold off to different banks. However, all indications at the moment are that no-one wants the branch network. So, marketing will be one of the first areas to go as there will be no brand or products to market.

Mussidan

Yes, unfortunately that is what I thought would be the case. Depressing after all her efforts to secure a decent job. Thanks anyway - she will have to start looking for something else pronto.

fairytale1

I also work for B&B In the savings Dept. Do you think i will stay simply to handover?

dunstonh

There will be a period of handover and servicing required. Some bits will go almost straight away whilst other bits will be in place for years.

Remember the buyer will be looking to make cost savings. However, merging data from the old company to the new company could take a few years. You cannot just suddenly service B&B customers out of Abbey branches or Northern rock. The infrastructure needs to be in place to do that. Although moving a couple of dedicated tills for B&B only customers into various branches could occur very quickly as its really only a case of putting a server in each branch and another couple of telephone lines (which is harder than it sounds but certainly quicker than a full data merge).

EdInvestor

dunstonh wrote: »

Everything suggests the B&B will cease as a brand and bits will be sold off to different banks. However, all indications at the moment are that no-one wants the branch network. .

That's not what the BBC story says.

http://news.bbc.co.uk/1/hi/business/7640143.stm

Rather, it suggests that the nationalisation will be a temporary measure to give more time so as to split the bank into 2 main bits: the mortgages (to remain nationalised and probably to be stuffed into Northern Rock) and the savings/ branches (to be sold off to another bank, such as Sanatander, or HSBC.)

This would suggest that branch staff jobs are likely to be safe.

dunstonh

EdInvestor wrote: »

That's not what the BBC story says.

http://news.bbc.co.uk/1/hi/business/7640143.stm

Rather, it suggests that the nationalisation will be a temporary measure to give more time so as to split the bank into 2 main bits: the mortgages (to remain nationalised and probably to be stuffed into Northern Rock) and the savings/ branches (to be sold off to another bank, such as Sanatander, or HSBC.)

This would suggest that branch staff jobs are likely to be safe.

I only posted what I had read on the FT website which suggested the B&B is being nationalised for an immediate split with different banks taking different bits with the nasty stuff going to Northern Rock. No-one wanted the branch network though.

Remember at the moment any reporting is guesswork as no-one knows the facts and its a very fluid position. Media articles are being updated every few hours with little bits being changed.

geoffky

just on main news bbc that its branches are to close........here we go with big job losses announced on the news nightly...