So, it looks like HBOS will be saved after all with the acquisition proposal from Lloyds TSB but this will come with a high number of job cuts. The acquisition is reported at saving HBOS at least £1.5bn per year with cut backs in staff a high factor in reducing the costs.
Unions say that banks should consider the human cost of the take over avoiding compulsory redundancies and I could not agree more. It seems that there is little gain for such a huge loss in jobs. Where are all these hard working people going to go?
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