Educa Posted September 8, 2004 Share Posted September 8, 2004 Is it true Coutts are leaving the Island...for Jersey? Link to comment Share on other sites More sharing options...
mbx Posted September 8, 2004 Share Posted September 8, 2004 I hope not A friend of mine only just started there last week. He was one of the survivors of the AIB debacle Link to comment Share on other sites More sharing options...
Educa Posted September 8, 2004 Author Share Posted September 8, 2004 ..apparantly it was on manx radio that 3/4 of the staff are loosing their jobs with another 15 going to jersey and further 16 taking early retirement?? Link to comment Share on other sites More sharing options...
Uni Posted September 8, 2004 Share Posted September 8, 2004 Yeah I just heard something on the radio about that, maybe the directors don't own enough cars? Link to comment Share on other sites More sharing options...
slinkydevil Posted September 8, 2004 Share Posted September 8, 2004 Sorry about the cut and paste [/snip] Source - Manx Radio - http://www.manxradio.com Coutts to cut Manx workforce Coutts Bank in Onchan, part of the RBS Group, is to cut its Manx workforce by three quarters. Of the current staffing of 61, 45 will be effected. Coutts are anxious naturally to emphasise two things; that they are not pulling out of the Island, and that this will mean a better service for their clients among who of course they have the Queen. But three quarters of the staff are moving, and thats a blow to the Manx Government, eager to promote itself as the centre of choice for such operations. Jersey is benefitting from this consolodation, but a wealth relationship management team of 16 will be staying and the building in Onchan will be retained. Coutts, who aim at high wealth clients, say that they are looking to increase efficiency and avoid duplication by having two operations in two jurisdiction. In terms of numbers, of the 45 staff effected, 15 have already been marked out for redeployment, 14 are taking early reetirement, 16 have currently to find other positions but its stressed that only a bare minimum will have to take compulsory redundancy. Its a big upheaval, even for those with guaranteed employment elsewhere. They will have to move themselves and their families off Island, some going to Jersey, where, amongst other things house prices are high. The prestige and relatively new building in Onchan will be retained. The Treasury Minister, Allan Bell, is currently off Island. Initial comment from a Treasury spokesman: 'The loss of administrative positions at Coutts is disappointing but has to be seen in context. Change is a fact of life in the financial services industry around the world but we should not lose sight of the good news, for example; there is another bank in the Isle of Man that is creating 50 new jobs. Overall, the Island's economy is healthy, as indicated by the recent announcement of an increase in job vacancies to the highest total for three years.' Link to comment Share on other sites More sharing options...
FCMR Posted September 8, 2004 Share Posted September 8, 2004 I posted this ages ago, but as per the norm, most of you said it was rubish. The finance houses have lost trust in the IOM Government as it stands, and if the Government dont change soon, things will only get worse. What chance has the Government got if its top members cant get their own affairs in order. Would you put your trust in a person that is being sued for dept Link to comment Share on other sites More sharing options...
WilDDog Posted September 8, 2004 Share Posted September 8, 2004 *Debt* Link to comment Share on other sites More sharing options...
Bill Posters Posted September 8, 2004 Share Posted September 8, 2004 Ha, WiilDDog speaks FCMR! Link to comment Share on other sites More sharing options...
Ean Posted September 8, 2004 Share Posted September 8, 2004 I can do it too *rubbish* Where did you say that Coutts was cutting 3/4 of it's workforce FCMR? Link to comment Share on other sites More sharing options...
WilDDog Posted September 8, 2004 Share Posted September 8, 2004 Where did you say that Coutts was cutting 3/4 of it's workforce FCMR? <{POST_SNAPBACK}> He was probably having a drink in the pub and bashing some poor parking controllers ear asking "why people park in his parking spaces" and he probably told him/her. Link to comment Share on other sites More sharing options...
FCMR Posted September 8, 2004 Share Posted September 8, 2004 I said that a large finance house in the centre of Onchan was to relocate Link to comment Share on other sites More sharing options...
Ean Posted September 8, 2004 Share Posted September 8, 2004 Where? On here? Link to comment Share on other sites More sharing options...
FCMR Posted September 8, 2004 Share Posted September 8, 2004 Yes Link to comment Share on other sites More sharing options...
Ean Posted September 8, 2004 Share Posted September 8, 2004 Fancy telling us which thread? Link to comment Share on other sites More sharing options...
sirdick Posted September 8, 2004 Share Posted September 8, 2004 But they're not relocating, the business isn't going anywhere. Link to comment Share on other sites More sharing options...
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