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Banks prepare to move staff out of the UK watch

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    Banks today confirmed that they'd be moving large numbers of staff out of the UK. This is following the PM's speech where she said that the UK would leave the Single Market.

    http://www.bbc.co.uk/news/business-38663537

    Now I imagine a lot of people will be saying good riddance. To an extent, I can understand. But let there be no doubt that the UK heavily relies on finance - and we now look set to be knocked down from our place as a global financial centre.

    We now need to work out what we are going to do to replace what used to be our main industry. All this as well as many businesses in the UK wondering whether they'll be trading with the EU and on what terms. What a mess.

    I'd also point out that whenever the Remain side said this would happen, Leave said we were scaremongering. Look who turned out to be wrong...
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    (Original post by InnerTemple)
    Banks today confirmed that they'd be moving large numbers of staff out of the UK. This is following the PM's speech where she said that the UK would leave the Single Market.

    http://www.bbc.co.uk/news/business-38663537

    Now I imagine a lot of people will be saying good riddance. To an extent, I can understand. But let there be no doubt that the UK heavily relies on finance - and we now look set to be knocked down from our place as a global financial centre.

    We now need to work out what we are going to do to replace what used to be our main industry. All this as well as many businesses in the UK wondering whether they'll be trading with the EU and on what terms. What a mess.

    I'd also point out that whenever the Remain side said this would happen, Leave said we were scaremongering. Look who turned out to be wrong...
    If I worked at a bank and was told to relocate i'd tell them where to go.
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    (Original post by InnerTemple)
    We now need to work out what we are going to do to replace what used to be our main industry.
    I'd also point out that whenever the Remain side said this would happen, Leave said we were scaremongering. Look who turned out to be wrong...
    black pudding
    cricket bats
    hand crafted model Spitfires
    acrylic cardigans

    the list is endless :teehee:
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    (Original post by SirDaz)
    If I worked at a bank and was told to relocate i'd tell them where to go.
    Lmao
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    (Original post by SirDaz)
    If I worked at a bank and was told to relocate i'd tell them where to go.
    Your prerogative, but their response would likely be 'your job is being replaced by one in France - you can take it or leave it'.
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    (Original post by TurboCretin)
    Your prerogative, but their response would likely be 'your job is being replaced by one in France - you can take it or leave it'.
    leave it then the bank should be barred from doing any trade or providing any services in Britain they **** us over we **** them over.
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    (Original post by SirDaz)
    leave it then the bank should be barred from doing any trade or providing any services in Britain they **** us over we **** them over.
    That's easy for someone working outside of FS to say isn't it.
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    (Original post by the bear)
    black pudding
    cricket bats
    hand crafted model Spitfires
    acrylic cardigans

    the list is endless :teehee:
    Vinegar and chips
    Vinegar and... other things
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    (Original post by TheGreatPumpkin)
    Vinegar and chips
    Vinegar and... other things
    we are world beaters at crosswords... we just need to forge strong crossword trade deals across the globe.
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    (Original post by SirDaz)
    leave it then the bank should be barred from doing any trade or providing any services in Britain they **** us over we **** them over.
    Erm, right.
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    (Original post by SirDaz)
    If I worked at a bank and was told to relocate i'd tell them where to go.
    Where, the place they're relocating to?
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    A lot of people in financial services will be well educated and highly skilled and should be able to get alternative employment in other sectors of the economy but if it comes down to it there will be spaces freed up in things like fruit picking, careworker jobs or the modern opportunities in the sharing economy like deliveroo, uber and so on.
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    On the other hand, more strawberry picking jobs for Brits!
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    A lot of bankers spend a lot of time out of the country with their kids in boarding schools so relocating just means more air fares to see the kids.
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    I'm sure that Brexiteers will be able to replace that lost tax revenue from somewhere as well... maybe by pulling it out of their anus?
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    (Original post by SirDaz)
    leave it then the bank should be barred from doing any trade or providing any services in Britain they **** us over we **** them over.
    Looks like you are channelling Trump
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    (Original post by JohnGreek)
    I'm sure that Brexiteers will be able to replace that lost tax revenue from somewhere as well... maybe by pulling it out of their anus?
    But losing a few billion is worth it to get back the whole country.
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    (Original post by the bear)
    we are world beaters at crosswords... we just need to forge strong crossword trade deals across the globe.
    The world needs our exports of sarcasm and non-verbal 'sorry not sorry you ****'
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    (Original post by MagicNMedicine)
    A lot of people in financial services will be well educated and highly skilled and should be able to get alternative employment in other sectors of the economy but if it comes down to it there will be spaces freed up in things like fruit picking, careworker jobs or the modern opportunities in the sharing economy like deliveroo, uber and so on.
    A lot of city based FS firms have already been outsourcing and cost cutting for months. You've got a massive trickle down effect in London where people with years of industry experience are going for entry/mid level jobs which normally go to grads, just to get a foot in the door somewhere. The 20 somethings with no experience are then pushed down to work in McJobs like Deliveroo that don't pay you enough money to live on.
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    (Original post by sr90)
    A lot of city based FS firms have already been outsourcing and cost cutting for months. You've got a massive trickle down effect in London where people with years of industry experience are going for entry/mid level jobs which normally go to grads, just to get a foot in the door somewhere. The 20 somethings with no experience are then pushed down to work in McJobs like Deliveroo that don't pay you enough money to live on.
    Excellent. When the immigrants have gone home, this sounds like a good group to attack.

    How much taxpayers money have those 20 somethings received to subsidise them through university? there are too many graduates, this is because of New Labour and leftists.

    In fact I think there are too many 20 somethings in this country, we are full.
 
 
 
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