2000 jobs to go at Northern Rock
18 March 2008, 11:49 AM
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2000 jobs to go at Northern Rock
Northern Rock to cut 2,000 jobs | Business | Reuters
So from the lender with a fifth of the market to Nationalisation to this.
Sorry for anyone that has lost their jobs but it seems to me the financial sectors are jettoning loads of people.The greediness is coming to haunt them all now
Don't think the UK Financial empire is quite going to be what it was anymore ie keeping the UK economy afloat seeing as we don't make or grow anything anymore,its a bit annoying
So from the lender with a fifth of the market to Nationalisation to this.
Sorry for anyone that has lost their jobs but it seems to me the financial sectors are jettoning loads of people.The greediness is coming to haunt them all now
Don't think the UK Financial empire is quite going to be what it was anymore ie keeping the UK economy afloat seeing as we don't make or grow anything anymore,its a bit annoying
18 March 2008, 11:51 AM
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Once the government took over, job losses were inevatable.
I have money in Northern Rock so in one way I'm pleased that my money is safe. Glad I didn't panic like everyone else.
I have money in Northern Rock so in one way I'm pleased that my money is safe. Glad I didn't panic like everyone else.
18 March 2008, 11:53 AM
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Was bound to happen.
But, you have to look at the Government dithering for 5 months over what to do about Northern Rock before nationalising it.
Compare that to the US, where Bear Sterns was bought by JP Morgan and the Federal reserve has unwritten all of Bear Sterns assets, and the whole thing is sorted out over a weekend- Which is exactly the deal Lloyds were offering for NR to begin with.
But, you have to look at the Government dithering for 5 months over what to do about Northern Rock before nationalising it.
Compare that to the US, where Bear Sterns was bought by JP Morgan and the Federal reserve has unwritten all of Bear Sterns assets, and the whole thing is sorted out over a weekend- Which is exactly the deal Lloyds were offering for NR to begin with.
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