Print

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

[Mister Rog]

Lloyds bank have announced job cuts and branch closures, despite recent increased profits. The reason is being put down to Brexit.

It seems to me that Brexit is a convenient excuse for quite a few companies to make changes and take decisions that would otherwise be very unpopular or controversial.

[Migv6 le Frog Fan]

Agreed. They blamed an imminent cut in interest rates due to Brexit. The interest rate cut hasn't even been announced yet.

[Diamond Black Geezer]

'Reports of racist abuse in Britain'

That was a good one. Because racism didn't exist until Brexit.

Mate of mine (who is in the remain campaign as it goes) works at a large bank/insurance/whatever firm. The very week of the vote he told me he knew friends who had been made redundant because of the vote. The week. Really? Really? Don't doubt he has had friends that have been made redundant, but directly because of the vote?

As you say, scapegoat springs to mind. And given that the 'remain' self-style themselves as being the more 'illuminated' and the 'intelligentsia' I'm surprised that they can't see this - whereas a bigoted, uneducated, racist, ignoramus such as I (sorry, like wot I is) can. 

[Sir Tigger KC]

And the BBC, The Guardian and the rest of the liberal leftie media lap it up. 

[aaronjb]

Mate of mine (who is in the remain campaign as it goes) works at a large bank/insurance/whatever firm. The very week of the vote he told me he knew friends who had been made redundant because of the vote. The week. Really? Really? Don't doubt he has had friends that have been made redundant, but directly because of the vote?

I know someone who said much the same - the day after the vote (or perhaps the Monday after) it was something along the lines of:

"Well my friend has been told they are redundant and their firm is shutting down as they can't survive with the exchange rate change. I hope you're all happy with yourselves for what you've done!"

.. if they couldn't survive two days of poor exchange rate then management had already run the company into the ground you pillock.

[Diamond Black Geezer]

Sounds like we might be talking about the same bloke aaronjb!!! 

[aaronjb]

  Maybe!

[Doctor Gollum]

When Jeremy Whine mentioned that this would be an item on his show later, he did suggest that perhaps it was simply due to them being a rubbish bank...

Speaking as a soon to be former Lloyds customer, he might be on to summat

[Field Marshal Dr. Opti]

Brexit will certainly bring consequences, both good and bad.

The next time your mutt lets an evil and ungodly fart rip it will be the fault of leaving the EU.

[Migalot]

[Nick W]

One of my former bosses used to say "Never have a scapegoat and don't use it."
As soon as you leave, you volunteer as the new scapegoat, which is a position that can last for some time. I know I was still getting the blame for some of the stock levels 3 years after I left a previous job

[STEMO]

Two news stories side by side on BBC app this morning: Lloyds to cut 3000 jobs. Macdonalds to create 5000 jobs. Banker to burger flipper, sign of the times.

[Diamond Black Geezer]

True 

And let's see how many news stories run with the headline - 'Brexit creates 5000 new jobs at major restaurant chain' of course not, it just doesn't fit with the 'pattern' same as no-one will run a story saying 'People, including Muslims, stand remembering WW2' it wouldn't be 'newsworthy' even though the latter occurs every year.

[Field Marshal Dr. Opti]

Two news stories side by side on BBC app this morning: Lloyds to cut 3000 jobs. Macdonalds to create 5000 jobs. Banker to burger flipper, sign of the times.

Yes. There are always job opportunities out there.

I believe that 3 vacancies exist at Barclays for devious individuals who are willing to fix the libor rate.

Previous employees are currently living rent free in a large brick building, whilst enjoying communal showers with Big Winston and his many well-endowed friends.

 

[Rods2]

Change always creates volatility, so what has happened with #Brexit has not been a major surprise and some of them like the FTSE and Gilt prices have already recovered and exceeding previous levels very quickly. There has been a modest recovery in the exchange rate which I think will continue.

27 countries are now keen on Bilateral trade deals with us that represents 67% of global GDP.

Business confidence has been falling all this year, where we are at the end of an economic cycle with China particularly badly hit. The latest #Brexit business confidence loss is already showing a modest recovery. The latest ICAEW business confidence report can be viewed with this link and will be worth following over the next few months.

http://www.icaew.com/~/media/corporate/files/about%20icaew/what%20we%20do/business%20confidence%20monitor/2016/bcm%202016%20q3%20final.ashx

In the Eurozone the refinancing of $360bn of bad debts in Italian banks is going to be 'interesting' where Italy with a sovereign debt to GDP ratio of 133% and can't afford to bail them out, even if the post-Cyprus rules allowed them to, but they are trying to find other means where they are trying to avoid bailing-in the bank depositors, bond and shareholders as it will expose a big scandal where Bank bonds have been mis-sold as 'safe' savings schemes for retail customers. I don't think Deutsche bank problems are over.

As always, we are living in 'interesting' times.