Banks under fire over job cuts - Democratic Underground

xchrom

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Thu Jun-30-11 01:46 PM
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Banks under fire over job cuts

http://www.independent.co.uk/news/business/news/banks-under-fire-over-job-cuts-2304723.html

Two of Britain's biggest banks came under fire from unions today after announcing plans to cut thousands more jobs in the industry.

Lloyds Banking Group said it will lose 15,000 staff by 2014 as part of new chief executive Antonio Horta-Osorio's strategic review, while HSBC said it will cut 700 roles.

The unions said they were "flabbergasted" by the day's job losses and accused the banks of finding "any excuse" to cut them.

Mr Horta-Osorio, who took up the top post in March, was unrepentant and insisted the cuts had to be made for the good of the bank and UK economy.

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Newest Reality

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Thu Jun-30-11 02:16 PM
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1. Banking buzzards,

unregulated and stuffed with cash, will eventually eat their own, along with what is left of the rest of us. Bones will be picked clean along the way.

Yum! The feast has begun.

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Tue Apr 30th 2024, 03:44 PM
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