HSBC Bank To Axe Thousands Of Jobs In UK : may also change back to "Midland Bank"

[arista]

Up to 8,000 for the UK
and 20,000 worldwide

This has been on the cards
for a long time

http://news.sky.com/story/1498660/hsbc-to-axe-thousands-of-jobs-in-uk

http://s2.reutersmedia.net/resources/r/?m=02&d=20120329&t=2&i=588490822&w=644&fh=&fw=&ll=&pl=&r=2012-03-29T131258Z_1_CBRE82S10PQ00_RTROPTP_0_UAE


There HQ is moving to Birmingham , soon.

[Livia]

I expect this is the first of many in the face of the massive levy imposed on the banks. Lots of jobs will be lost as more foreign banks pull out of the UK. What was everyone expecting to happen? Did we think they'd just pay up?

[arista]

Yes The Bank Cull
more to follow

[Kizzy]

'HSBC has gone further than other UK banks in outlining how its ringfenced bank will operate. It will be based in Birmingham and employ 26,000 people. Another 14,000 will be employed in an operations hub to support the business, known as ServCo. The bank has just over 1,000 branches in the UK.
Gulliver said he did not expect any change to the need to create a ringfence but is looking for clarity on the amount of control the holding company would have over the UK business after 2019. “The regulation is fixed. We are moving to execution on this,” he said.

In total, HSBC employs 48,000 people in the UK, including 4,000 in investment banking. The 8,000 job cuts earmarked for the UK are part of 25,000 being lost from its global workforce as Gulliver attempts to cut costs to boost returns to shareholders. Another 25,000 are being lost as he sells off two businesses, in Brazil and Turkey.'

Hang on goes that mean 8,000 jobs are going but the Birmingham bank will have 26,000 workers with 14,000 in other UK branches...
How is this bad news?

http://www.theguardian.com/business/2015/jun/09/hsbc-name-and-logo-to-disappear-from-british-high-streets

[arista]

Kizzy
some banks will close later
you seem to think that link is solid truth
many workers are moving towns
to stay on the pay roll.

Lets see what happens soon

Cash is less used
Home Banking is
so most banks are going to change
and have a Cull


Sign Of The Times

[Kizzy]

You posted that there was a Birmingham central office being built too, it's providing jobs isn't it? showing the bank isn't pulling out of the UK. As you say there are just more people banking online as opposed to in branch.

[the truth]

amazing to see the truth of the situation, the tories are actually regulating these banks tighter than new labour

[JoshBB]

amazing to see the truth of the situation, the tories are actually regulating these banks tighter than new labour

:laugh2:

At this point its almost like you are a parody account, 'the truth'.

[Livia]

:laugh2:

At this point its almost like you are a parody account, 'the truth'.

The Tories are regulating the banks tighter than Labour. I don't see why you're wearing out that laughing smiley. Again.

[Kizzy]

Ahem... (credit to the Andrew Marr show)
'DAVID CAMERON:

The point about regulation …

ANDREW MARR:

(over) I'll read you what you said then back in 2006. You said that 'too often regulation is the first resort. The message from the city is that we should have less regulation and that the centre right believes that people should stand aside and let business get on with it'. You know your deregulation task force said 'government even think … government claims that all this regulation's necessary. They seem to believe that without it banks could steal our money'.

http://news.bbc.co.uk/1/hi/programmes/andrew_marr_show/8289441.stm

[the truth]

:laugh2:

At this point its almost like you are a parody account, 'the truth'.

mock and laugh all you like with your new labour comrades, its true...then again new labour and the truth are oceans apart