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

lemonjelly

Thrugelmir wrote: »

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.[/QUOTE]

Ah, the good old days!;):D

I'm niot disagreeing with you - interested in your feedback.

It just seems to me that in real terms, wages appear to have gone down. The job for life doesn't exist. People don't seem to have careers anymore, but are passing through towards a job.

I think I need to sort out the fact that I have a real beef with employment agencies, and the impact this has on people (lower wages, holiday/sick pay etc).

But I do feel it is true that some of the very largest multinationals (tbh, I think I'm more on about companies rather than banks) have scaled down their own operations, and now subcontract the work and the workforce, ultimately resulting in a reduction in social capital and social disposable income..

Thrugelmir

lemonjelly wrote: »

Thrugelmir wrote: »

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.[/QUOTE]

Ah, the good old days!;):D

I'm niot disagreeing with you - interested in your feedback.

It just seems to me that in real terms, wages appear to have gone down. The job for life doesn't exist. People don't seem to have careers anymore, but are passing through towards a job.

I think I need to sort out the fact that I have a real beef with employment agencies, and the impact this has on people (lower wages, holiday/sick pay etc).

But I do feel it is true that some of the very largest multinationals (tbh, I think I'm more on about companies rather than banks) have scaled down their own operations, and now subcontract the work and the workforce, ultimately resulting in a reduction in social capital and social disposable income..

Perhaps my main point is that in the past 10 years no real wealth has been created. The only jobs created were financial, construction and public service. With freedom of movement in the EEC. Poorer paid jobs have been filled from immigrants. UK citizens being better off on benefits in many cases. This bubble has burst. Exposing a very poor economy beneath.

You may say good old days. In reality life is cyclical. Particularly business.

The new generation of business entrepeneurs still make the same mistakes as previous ones. Ever wonder why FTSE100 directors are often in their 60's? In reality nothing changes, maybe a buzzword or two.

Banks were invented around a 1,000 years ago. So nothing new.

Doozergirl

Hair_Bear wrote: »

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

They were £10 ten years ago.

Thrugelmir

Doozergirl wrote: »

They were £10 ten years ago.

Is that when you bought yours? :rolleyes:

Doozergirl

Nope. My most expensive ones were £1.90; BOGOF

lemonjelly

Thrugelmir wrote: »

lemonjelly wrote: »

Perhaps my main point is that in the past 10 years no real wealth has been created. The only jobs created were financial, construction and public service. With freedom of movement in the EEC. Poorer paid jobs have been filled from immigrants. UK citizens being better off on benefits in many cases. This bubble has burst. Exposing a very poor economy beneath.

You may say good old days. In reality life is cyclical. Particularly business.

The new generation of business entrepeneurs still make the same mistakes as previous ones. Ever wonder why FTSE100 directors are often in their 60's? In reality nothing changes, maybe a buzzword or two.

Banks were invented around a 1,000 years ago. So nothing new.

Nail on head!

Full agreement here. You've said it better than I had!

We appear to have stopped making things, and being about lifestyles now. Because we don't make stuff, we've lost skills, and all the company outsourcing hurts all of us in the long run.

Employees are no longer employees, we're a cost that needs to be reduced, in order to increase profits. Trouble is, I worry that will lead to a viscious circle with the fact that if joe public has less to spend, then the consumer market will slide.

Oversimplifying a little, an example of what I mean could be the fact that there used to be wages/salaries which would cover a family. Nowadays, I see salaries/wages which would struggle to keep an individual afloat!

sabretoothtigger

green shoots = triffids