Lloyds TSB announces 566 job cuts

crashuk

crashuk

crashuk

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will go in London and Tonbridge in Kent and will also see three offices close in Glasgow, Chorley in Lancashire and Newton Aycliffe in County Durham.

The bank has a plan to cut its back office costs by £121m a year by 2010.

Ninety jobs from a Lloyds TSB site in Andover in Hampshire, are being transferred to India, but the bank is promising to retrain and redeploy the staff affected.

The bank will start the job reduction process this month, and hopes to have completed the changes by March 2007.

Last month Lloyds TSB announced a 4% rise in pre-tax profits to £3.47bn, but said bad debts had hit its High Street operations.
 
British Airways is cutting 400 jobs as part of changes to its direct sales operation, the company has said.

One of the world's biggest airlines, BA said pre-tax profit increased by 8% to £164m ($291m) during the three months ending 31 December from a year earlier.

Well more job cuts it greed, and the government policies towards no uk firms allowing them better tax breaks.
 
More proof that companies in the UK show absolutely no loyalty to employees. Employees are just resources and if there's a way of increasing profit by making people redundant, then redundant they become. It harks back really to a previous thread where people were saying how loyal they are to their employer and how they happily work extra hours without pay or reward. Suckers. The days of employers viewing its staff as its most important resource are over. Loyalty means nothing, it is all about profit, so we have the right to work our contracted hours and no more unless there is a specific reward for doing so and there is nothing wrong in changing jobs if something better comes along. I'm glad I don't work for anyone anymore...
 
Personally am moving my business from Lloyds as soon as financially viable, not because of them moving jobs to India but because their customer service is pathetic, it's virtually impossible to actually see anyone in a branch or discuss your finances properly, and when you finally get through to someone on the phone they don't have a clue what they're on about if you ask for something out of the ordinary.

Example
"Hi, I'd like to discuss the possiblity of a consolidation loan"
"Sorry, what is that?"
"Umm, a loan to consolidate all of my current debts"
"Sorry, I don't understand. You are paying your overdraft?"
*slams phone down*
 
I really hate Lloyds TSB, the place feels outdated and everything is so backwards.

Anyone else feel the same?
 
phykell said:
More proof that companies in the UK show absolutely no loyalty to employees. Employees are just resources and if there's a way of increasing profit by making people redundant, then redundant they become. It harks back really to a previous thread where people were saying how loyal they are to their employer and how they happily work extra hours without pay or reward. Suckers. The days of employers viewing its staff as its most important resource are over. Loyalty means nothing, it is all about profit, so we have the right to work our contracted hours and no more unless there is a specific reward for doing so and there is nothing wrong in changing jobs if something better comes along. I'm glad I don't work for anyone anymore...
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Why should they?

The majority of employees would be off like a shot if a better offer came along....
 
Visage said:
Why should they? The majority of employees would be off like a shot if a better offer came along....
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Have you ever given in your notice before? I have, several times, and a good few times it was like I was stabbing my manager in the back or something from the reaction. I recall one particular instance where they forced me to take all my holidays (4 weeks accrued) for my notice period rather than pay me for them even though the project really needed me. Of course I got the last laugh, because a motorcycle accident the day after I gave my notice in, meant I had the four weeks off anyway, and they had to pay my holiday pay! Hohoho :D

Then again, it was a pretty bad accident :(
 
valerian said:
legalised theft, hoorah for the guy who has sued them for illegal charges
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bwaahhhaaa, the guy got the go ahead to send the baliffs into the bank to seize assets if the bank didnt pay up. :D
 
So, a company has moved part of it's operation to India to save money eh? :eek: ;)

I'm really not sure where I stand on this, because I can see the positives and negatives of it.

All I will say though, is that if anybody doesn't like it, vote with their feet.

Since we all know that our "democracy" is a joke, as consumers, voting with our feet is the only real power we have. And it's an enormous amount of power in fact if people would actually use it.
 
The made a pre-tax profit of £3.5 billion... and they want more?

Nice way to treat your employees after announcing record profits though.
 
i've never had problems with LTSB. always found their customer services to be very good. i have some select thing or something like that so i never talk to anyone in India (unless i call India)

i would also never get a consolidation loan from a bank.

Tesco > Lloyds
5.9% APR > 12.9% APR
 
dirtydog said:
Capitalism at its finest. Should be a popular move on this forum ;)
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Yes, capitalism. That method whereby UK companies are encouraged to employ workers from countries where workers' rights aren't particularly important. It's also the method that UK companies use to source their materials/products from, and invest in, a Communist country. The irony...
 
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Seems my job is safe :o

the chairman is being replaced this year iirc.

and Lloyds are not that bad, i think Barclays are a lot worse! And dont worry even the UK staff hate the call centres in India they really dont know what they are doing, its not their fault they just dont understand as aswell, i think a fair few centres are gonna be moving back
 
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