Lloyds to sack yet another 1200!! must be those pesky green shoots!

Doozergirl

lostinrates wrote: »

Isn't afair bit of commercial/businessbanking handled by Lloyds in Scotland? (searching recesses of head for where this impression might hav been gained from.:o)

I don't know exactly what share of the Scottish commercial purse BOS hold but the impression I've been given is that it is larger. From what I do know, Lloyds TSB Commercial in Scotland is small even when compared to just one of the regions in England/Wales.

I think it's a given that the Scottish would resent the brand of their national bank being swallowed by Lloyds anyway.

Thrugelmir

Doozergirl wrote: »

I think it's a given that the Scottish would resent the brand of their national bank being swallowed by Lloyds anyway.

Must be painful that all UK taxpayers own the Scottish Banks then !

HBOS was (as we are now finding out) a complete shambles. In many ways worse than RBS which at least has a global presence. Without the Lloyds merger. HBOS at best would have been broken up. And very little would have remained at the end. Better that the operations were merged to form a secure retail bank for the UK economy.

lemonjelly

Thing is, there is a contradiction as to how the market works. CEO makes swathes of cuts, resulting in a more profitable company. Stock market etc love it, & accordingly share price increases. So if you follow this through - as we all love it when the stock market goes up, effectively we're happier when more & more are being made unemployed.

Talk about turkeys voting for christmas...

Thrugelmir

lemonjelly wrote: »

Thing is, there is a contradiction as to how the market works. CEO makes swathes of cuts, resulting in a more profitable company. Stock market etc love it, & accordingly share price increases. So if you follow this through - as we all love it when the stock market goes up, effectively we're happier when more & more are being made unemployed.

Talk about turkeys voting for christmas...

In this case the whole turkey farm wouldn't have made it to Xmas last year.

The motor industry has to capacity. Just like UK retail banking. Thats the fact of life.

UK retail banking over the past 15 years grew on the back of property equity. Mortgages and secured lending. Without which HBOS would never have grown into the business it did.

I wouldn't be surprised if the EEC forces Lloyds to divest itself of BOS to create an alternative smaller retail bank. Lloyds would have considered this risk at the outset but saw an opportunity to grow quickly.

lemonjelly

I see your point Thrugelmir, however since the 80's we can see that there has been a growth in companies looking to shrink their responsibilities. There have been falls in the levels of f-t staff. P-t staff & in particular use of agency workers has increased drastically. Instead of owning factories, companies outsource/sub-contract. This reduces overheads, no/less need for HR depts, less assets to monitor/secure etc.

I'd bet that there is a larger %age of agency/part timers in the banking sector.

Doozergirl

lemonjelly wrote: »

Thing is, there is a contradiction as to how the market works. CEO makes swathes of cuts, resulting in a more profitable company. Stock market etc love it, & accordingly share price increases. So if you follow this through - as we all love it when the stock market goes up, effectively we're happier when more & more are being made unemployed.

Talk about turkeys voting for christmas...

Hoe long do we thinking then before Lloyds shares make it back up past where they were at £10+ from their current position of ooh, around 66p? :rolleyes:

Hair_Bear

Lloyds shares were never £10 per share, more like £5 or £6.

lemonjelly

Doozergirl wrote: »

Hoe long do we thinking then before Lloyds shares make it back up past where they were at £10+ from their current position of ooh, around 66p? :rolleyes:

I'd guess at between 1-2 CEO's. They only stay anywhere for up to 5 years now, so 5-10 years!

Snooze

kennyboy66 wrote: »

What do you suggest unions are for ?

1. Keeping the lazy and bone-idle in a job.
2. Er, that's it.

Rob

Thrugelmir

lemonjelly wrote: »

I see your point Thrugelmir, however since the 80's we can see that there has been a growth in companies looking to shrink their responsibilities. There have been falls in the levels of f-t staff. P-t staff & in particular use of agency workers has increased drastically. Instead of owning factories, companies outsource/sub-contract. This reduces overheads, no/less need for HR depts, less assets to monitor/secure etc.

I'd bet that there is a larger %age of agency/part timers in the banking sector.

Roll back 15-20 years. The major UK retail banks were Lloyds, Natwest, Barclays and HSBC . RBS and BOS were predominantly northern based.

The growth in Financial services on the back of the credit boom came from demutalised building societies. Halifax, NR, Abbey , B&B and A &L in the main. Who initially swallowed up their smaller bretheren.

Where we ended up last October. The demutualised building societies had all gone. RBS is only large as it is, following the takeover of Nat West and finally ABN Amro which doubled its size overnight. Most likely this was its downfall, as it overpaid to win control. BOS had an unsustainable sales driven business model.

We are now back at the beginning. We have Lloyds , HSBC and Barclays. RBS is selling its Asian operations and other businessess to contract the size of its balance sheet and reduce lending exposure.

The whole sector needs to contract employee wise. The era is over.

Everything in business has a cycle. Go back 25 years and look at the make up of FTSE 30. Few of those Companies now survive in their original form.

Technology has transformed the way we work. In my first job I kept hand written ledgers for Friends Providents Life and Pensions investment funds. Real double entry bookeeping! Even then in the billions. Our calculators couldn't cope with the number of digits. So we added up in our heads.