Just dont ring up the bank.......

With the announcement by BT today that they will be laying off hundreds of workers, I asked myself this question. Is it really because of the "recession" or is it just an excuse to cut costs. I think that the downturn in the economy has been hyped to such an extent that its now a certainty that confidence or rather lack of it is having a serious effect. To announce such a huge redundancy so quickly into the so called downturn somehow seems a bit hasty to me, I suspect BT and several other companies are using this as an excuse. I have to admit I have no facts and figures at my disposal to prove or disprove my theory, these are only my personal feelings on the matter. I know just how long it takes to restructure such a large reorganisation, and I can tell you it's not done in a few weeks - far from it.

Banks it seems are not going to pass on the Bank of England rate cuts immeadiately, smacks a bit of profiteering to me does that. After all, who was it got us in this so called credit crunch in the first place. Peronally I think its damn cheeky of the banks and Mr Brown should come down hard on them, its the governments bloody money thats propping them up after all. What happened to the British sense of fair play? I suppose that doesnt count where profit is concerned.