Llloyds Banking Group - Cuts

[Scoobos]

I know a few people personally who've been hit by this, but here's hoping that the market recovers enough to help us all find contracts.

Good luck to all affected.

[BolshieBastard]

Wierd. I work with 2 people, 1 has just started at Halifax this week, the other starts on Monday, both on 12 month contracts and no mention of rate cuts.

They've both said their rate at LTSB is better than current (which is towards top end for the location).

[roger55]

Yep, Bob's the big winner..

RBS - off shoring 300 contractor positions to India
Lloyds - off shoring 205 contractor positions to India

(news page on this site).

Competition for financial contracts just got (even more) fierce..

who is this Bob people talk about here?

[KentPhilip]

who is this Bob people talk about here?

"Bob" is a slang term for an indian IT worker.

[Alf W]

Not good, moralle was low as it was

Still, I hear the coop has a bit of work on...

http://www.bbc.co.uk/news/uk-england-17296488ttp://

[oracleslave]

who is this Bob people talk about here?

Bob

[Jason]

The problem with offshoring

This sort of offshoring happens all the time. I have a lot of experience with it and with dealing with the offshore teams. What I can never figure out is why the bean counters think it is cheeper. The standard ratio I have seen used is you need 5 offshore guys to sort of replace 1 onshore guy (even if that onshore guy used to be offshore).

There are numerous quality problems, communication problems, time zone problems and so on. Especially now as the turnover in offshore companies is so high due to competition for the "best" people. During a 3 month period with a team of 20 people needed recently, the offshore supplier actually moved people in and out all the time and I ended up with a list of 120 people on the core team of 20 (not all at the same time obviously).

How this impacts Lloyds Banking Group and the availability of contracts for UK suppliers I cannot comment on except to say I am in negotiations at the moment to provide Solution and Integration Architecture consultancy.

[portseven]

How this impacts Lloyds Banking Group and the availability of contracts for UK suppliers I cannot comment on except to say I am in negotiations at the moment to provide Solution and Integration Architecture consultancy.

Likewise...

[ChrisPackit]

Strange of all this talk of cuts at LTSB, assuming its the HFX site, as I've had 3 calls this week on roles there with exceptional rates for my field.

Don't know if I would make the jump though from this cushy number I'm on at the mo....

[tractor]

...

This sort of offshoring happens all the time. I have a lot of experience with it and with dealing with the offshore teams. What I can never figure out is why the bean counters think it is cheeper. The standard ratio I have seen used is you need 5 offshore guys to sort of replace 1 onshore guy (even if that onshore guy used to be offshore).

There are numerous quality problems, communication problems, time zone problems and so on. Especially now as the turnover in offshore companies is so high due to competition for the "best" people. During a 3 month period with a team of 20 people needed recently, the offshore supplier actually moved people in and out all the time and I ended up with a list of 120 people on the core team of 20 (not all at the same time obviously).

How this impacts Lloyds Banking Group and the availability of contracts for UK suppliers I cannot comment on except to say I am in negotiations at the moment to provide Solution and Integration Architecture consultancy.

It doesn't have to be cheaper. It just has to be spun as cheaper. Even when the much cheapness reduces the QoS muchly, it doesn't matter because banks don't care about their QoS to the retail market particularly.

Much Bobs = cheaper. Board is happy, shareholders is happy, Bob is happy.

What does surprise me is that the inevitable nuclear accident has not yet happened.