Cheltenham and Gloucester goes bust!

Discussion in 'Current Affairs, News and Analysis' started by dangerousdave, Jun 9, 2009.

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  1. Sources have told Sky News Online that the bank will wind up all 164 of its Cheltenham and Gloucester branches putting 1500 people out of work.

    It is believed that staff will be told at a meeting later this morning.

    http://news.sky.com/skynews/Home/Business/Lloyds-Banking-Group-Redundancies-1500-People-To-Go---All-Cheltenham-And-Gloucester-Branches/Article/200906215299099?lpos=Business_Carousel_Region_0&lid=ARTICLE_15299099_Lloyds_Banking_Group_Redundancies%3A_1%2C500_People_To_Go_-_All_Cheltenham_And_Gloucester_Branches
     
  2. I'm confused? I thought Brown saved the banks? :roll:
     
  3. spike7451

    spike7451 RIP


    Nooooo.....WE saved the banks,Brown mearly took the money from US to save them...
     
  4. Not gone bust, being swallowed up by LLoyds and will keep its call centres open
     
  5. I dont remember voting for that. Now I'm even more confused.
     
  6. Biped

    Biped LE Book Reviewer

    That's because you're stupid and need to have a lie down.

    We voted for the right party to lead the country; the party that showed financial prudence, and having done so, is the best party, with the best leader to both see us through this global financial crisis AND the disturbance over the MPs expens[BANG] . . . . . . . . . THUD


    Got the cnut!
     
  7. There are jobs going in Chester too but wont be announced until later
     
  8. you wont be able to get savings or home loans etc with them anymore, as i hear they'll only be doing it through a broker :?
     
  9. All part of Lloyds rationalisation. It doesn't make business sense (although it does make for human tragedy) to duplicate their product. Lloyds knew this was going to happen when they took C&G over.

    Just wait until HBOS get the push.
     
  10. Be about 12 months until it's all done and dusted
     
  11. Not gone bust, just sh1tcanned.

    C&G were taken over by Lloyds TSB in 1995.

    Press release says that 95% of their mortgages are sold through brokers so it makes no economic sense to keep their branches open.

    The brand will carry on for new mortgages through brokers only.
    Savings products will be dealt with via interweb, telephone or post.
    No effect on existing mortgage customers.

    Lloyds Banking Group are doing what they said they were going to do - cut costs by streamlining and make more money for their shareholders.