thommo2010 Posted November 29, 2023 Share Posted November 29, 2023 I have heard from a reliable source that there could be as much as 40% of the iom workforce being made redundant. https://www.bbc.com/news/business-67558402.amp?fbclid=IwAR2zGAa6vyZwj2Z-4miu894jN_sKo-Dpx5b9fCh7VrhJolne0on1AaOLliE 1 Quote Link to comment Share on other sites More sharing options...
Banker Posted November 29, 2023 Share Posted November 29, 2023 https://gef.im/news/breaking/bank-axes-jobs-42515/?fbclid=IwAR1DuHjUDcOcaQPVHz_BqI9m2lCgmbeETF61YDwON65i9h9aAiB4qJHYurQ Quote Link to comment Share on other sites More sharing options...
2112 Posted November 29, 2023 Share Posted November 29, 2023 58 minutes ago, thommo2010 said: I have heard from a reliable source that there could be as much as 40% of the iom workforce being made redundant. https://www.bbc.com/news/business-67558402.amp?fbclid=IwAR2zGAa6vyZwj2Z-4miu894jN_sKo-Dpx5b9fCh7VrhJolne0on1AaOLliE Gef has an article on this, and it’s very likely of Manx redundancies. Much consternation on social media, especially as Barclays were lauded at the newspaper awards. It’s also not nice, whether it’s IOM, CI or UK redundancies in the run up to Christmas, especially within the harshest economic climate. There will be some IOMG cheerleaders who will no doubt spinning this as positive. Quote Link to comment Share on other sites More sharing options...
jackwhite Posted November 29, 2023 Share Posted November 29, 2023 Employer of the year though. I was staggered when I saw that award had been given last week. I can't fathom how. I've a handful of clients who have accounts with them. I ask them to move, anytime they're with Barclays Isle of Man. Their service on the commercial side is abysmal. Their system archaic. Never seen incompetence like it. The others banks are not perfect but they're a darn site better than Barclays. Horrible to see people losing their job though, if that is what happens. I'm sure there are some very good people working for them and I hope they find employment elsewhere with an organisation who know what they're doing. 3 Quote Link to comment Share on other sites More sharing options...
Weliveinhope Posted November 29, 2023 Share Posted November 29, 2023 'to improve returns' merry christmas, cunts 6 Quote Link to comment Share on other sites More sharing options...
thommo2010 Posted November 29, 2023 Author Share Posted November 29, 2023 14 minutes ago, jackwhite said: Employer of the year though. I was staggered when I saw that award had been given last week. I can't fathom how. I've a handful of clients who have accounts with them. I ask them to move, anytime they're with Barclays Isle of Man. Their service on the commercial side is abysmal. Their system archaic. Never seen incompetence like it. The others banks are not perfect but they're a darn site better than Barclays. Horrible to see people losing their job though, if that is what happens. I'm sure there are some very good people working for them and I hope they find employment elsewhere with an organisation who know what they're doing. I laughed at the employer of the year award I know people who have worked there and it doesn't sound a very appealing company to work for. 1 Quote Link to comment Share on other sites More sharing options...
jackwhite Posted November 29, 2023 Share Posted November 29, 2023 (edited) 11 minutes ago, thommo2010 said: I laughed at the employer of the year award I know people who have worked there and it doesn't sound a very appealing company to work for. .... it may well be. Or it may be some pay to play bullshit. This can't be news to those in the highest of senior management, so someone should have put a stop to the award if they knew this was around the corner. It's not a good look. But again, if they're as clueless as they are with their commercial banking, it's of no surprise. Either way, I have sympathy for the staff, not only affected but those having to worry whether they are just before Christmas. I certainly don't for the organisation. Edited November 29, 2023 by jackwhite Quote Link to comment Share on other sites More sharing options...
Moghrey Mie Posted November 29, 2023 Share Posted November 29, 2023 They are reducing layers of management and introducing automation. Maybe IOM government could learn from Barclays. 3 3 4 Quote Link to comment Share on other sites More sharing options...
woolley Posted November 29, 2023 Share Posted November 29, 2023 19 minutes ago, Moghrey Mie said: They are reducing layers of management and introducing automation. Maybe IOM government could learn from Barclays. It's not funny, but it's right. Quote Link to comment Share on other sites More sharing options...
Cueey Lewis And The News Posted November 29, 2023 Share Posted November 29, 2023 IOM employer of the year announcing that it’s binning off people before Xmas. It just shows what a farce the Awards for Excellence actually are. 6 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted November 29, 2023 Share Posted November 29, 2023 I'm amazed that the Ramsey branch has lasted as long as it has. I don't doubt that it has its own clientele but I've never seen it what you might call "busy". But at the end of the day it's all a race to the bottom between the banks to improve the bottom line for their respective shareholders. 2 Quote Link to comment Share on other sites More sharing options...
woolley Posted November 29, 2023 Share Posted November 29, 2023 1 hour ago, Non-Believer said: I'm amazed that the Ramsey branch has lasted as long as it has. I don't doubt that it has its own clientele but I've never seen it what you might call "busy". But at the end of the day it's all a race to the bottom between the banks to improve the bottom line for their respective shareholders. CEO needs to meet his targets to get those extra millions in bonus. 1 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted November 29, 2023 Share Posted November 29, 2023 8 minutes ago, woolley said: CEO needs to meet his targets to get those extra millions in bonus. In one. This is what it's all about, across the world in every industry. And where does it end, what will be left? A society of two tiers with a huge gap between? 2 Quote Link to comment Share on other sites More sharing options...
Banker Posted November 29, 2023 Share Posted November 29, 2023 2 hours ago, Non-Believer said: In one. This is what it's all about, across the world in every industry. And where does it end, what will be left? A society of two tiers with a huge gap between? But it’s always been the same even in communist countries where everyone is supposed to be equal! Capitalism drives the world economy 1 Quote Link to comment Share on other sites More sharing options...
Fred the shred Posted November 29, 2023 Share Posted November 29, 2023 There have always been the divide between the haves and have nots on the Island but it is growing wider by the day . There was something the other day saying the government employed one fifth of the total workforce on the Island and numbers seem to be increasing it is almost like a pyramid situation the pension funds are going to run dry one day. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.