Are banking and finance jobs really at risk?
I am sure you have all heard the news that was reported yesterday regarding the first half yearly reports that have emerged from some of the mainstream banks.
Barclays, yesterday announced that they have seen an 8% rise in their first half profits - mainly due to their investment banking division. Their profits show a massive £2.98 billion!! Also, HSBC haven't been to shy to shout about their profit of £3 billion!
Ok, so all we hear about is job losses etc these days and many of those are directly related to the banking industry.....but.....looking at these figures - are all these redundancies really necessary? It's not even like they are still paying their employees huge bonuses, as they have made it very clear that this will be an issue that they will attend to at the end of the year.
We are yet to hear about Lloyds and RBS - however we can expect to find out by the end of the week. I think people that have banking and finance jobs are being taken on a ride. What do you guys think?
Michael Fallon, Conservative MP made a brilliant quote yesterday to back up these announcements made from the banks - it read......
"But the difficulty is when these banks get into trouble ...they are bailed out effectively and don't suffer the pain other businesses suffer in the bad times"
Good for you Michael!!
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