Lloyds Bank Group - permanent

[LondonManc]

I try and reserve judgement about places until I've worked there myself. It's not the same experience for every one. I've worked at places where the experience varies from department to department when you talk to other contractors there.

[yMyjgT]

I'm working with a financial outfit who're just finishing up paying the price for that one, having now got it all back in house.

I don't know why they do it to themselves - I'd love to meet the salespeople involved.

It's stunning isn't it?
I can only assume the people deciding to do it are focused on short term gains, hitting targets etc, and they move on before it all turns to #$£%.

[ChimpMaster]

It's stunning isn't it?
I can only assume the people deciding to do it are focused on short term gains, hitting targets etc, and they move on before it all turns to #$£%.

Several years ago I contracted at a bank that outsourced much of their IT work to India too. Was the most depressing place I ever worked at.

It was clear that senior management were on commission for offshoring as much as they could, with little regard for skills or service.

[uk contractor]

Several years ago I contracted at a bank that outsourced much of their IT work to India too. Was the most depressing place I ever worked at.

It was clear that senior management were on commission for offshoring as much as they could, with little regard for skills or service.

Sounds like when I was @ LBG the perms knew it was coming could see it coming & could do nothing about it so they decided to blame the contractors even though it was nothing to do with us they even let most of us contractors go to cram some more Indians in! Clearly someone senior was on a bonus to replace contractors for lowest possible rates import specials!

[PrestonChris]

Several years ago I contracted at a bank that outsourced much of their IT work to India too. Was the most depressing place I ever worked at.

It was clear that senior management were on commission for offshoring as much as they could, with little regard for skills or service.

this has happened at 3 places I have worked at , new Chief Exec comes in with a remit to cut costs , outsources everything he can , collects his big bonus and ****s off

service delivery goes to tulip , clients complain , clients leave , new chief exec comes in with remit to get everything back in house, whatever the cost , collects big bonus cheque and leaves


and repeat ........

[LondonManc]

this has happened at 3 places I have worked at , new Chief Exec comes in with a remit to cut costs , outsources everything he can , collects his big bonus and ****s off

service delivery goes to tulip , clients complain , clients leave , new chief exec comes in with remit to get everything back in house, whatever the cost , collects big bonus cheque and leaves


and repeat ........

Sounds all too familiar. It's just a case of jumping from company to company as they bring things back in house.

[uk contractor]

4.988 according to the Intranet homepage!

Not noticed any animosity towards contractors.....mainly because it's around a 50/50 split in the area I'm in.


Apart from the many many IT support people all over the UK. Did you mean IT Helpdesk or something?

You based in the City of London inv banking offices though? Outside London I am sure its a much different more positive experience I understand from contractors I met in London who travel to regional offices & only spend a day in City of London.

[rocktronAMP]

Shame LBG are so tulip to work for

* The failure of the firm-wide e-Vision project (circa 2008/2009)

* The bad advice to invest in Microsoft SilverLight (circa 2009/2010) and kick out the Java engineering expertise.

* The terrible merger with HBOS



Cheeser's Price! (phonetic)




We, The tax payer, still own 5% of 'em But the package is impressive and beats London's typical starting package. Strange they killed off WFH. Why? Legacy technology Reuters MarketsLink still doing the rounds over there (St. Paul's office), maybe?

[LondonManc]

Several years ago I contracted at a bank that outsourced much of their IT work to India too. Was the most depressing place I ever worked at.

It was clear that senior management were on commission for offshoring as much as they could, with little regard for skills or service.

As a senior executive, you're brought in to deliver a profit/share price boost and are on a huge bonus to deliver this over three years.
In the simple "profit = revenue - cost" equation, unless you are an absolute superstar, you won't be affecting revenue much. The easiest route is therefore slash costs. Doesn't matter who is affected, the board's bonus payments are at stake here. Strip all the costs out, offshore to bobland and boom, there's your profit. Of course, nobody has actually considered the ability to execute three years down the line.

These executives are known as seagulls. They fly in, tulip over everything, take your chips and leave you to clean up afterwards.

[Andy2]

Sounds all too familiar. It's just a case of jumping from company to company as they bring things back in house.

Job of a CEO has to be best in the world. They hop from company to company with not a care in the world, getting rewarded millions for their success as well as failure,make short term decisions and collect money, golden handshakes , benefits. Whats not to like.