All Hail the JOB CREATORS!

[boutons_deux]

HSBC to Reduce Head Count by 50,000 as Part of OverhaulHSBC Holdings PLC on Tuesday said it would reduce its head count by up to 50,000 as part of a global overhaul to improve the profitability of its sprawling operations.

http://www.wsj.com/articles/hsbc-unveils-overhaul-of-global-operations-1433824955?ncid=newsltushpmg00000003

[boutons_deux]

Will American Banks Close Thousands of Branches?

JPMorgan Chase (http://247wallst.com/banking-finance/2015/02/25/will-american-banks-close-thousand-of-branches/#) & Co. (NYSE: JPM) will cut roughly 300 branches over the next two years. Some reasons for its decision extend to all banks that support large numbers of locations. Supporting customers via physical locations is a dying business. The J.P. Morgan decision is just the beginning.

Several banks have thousands of branches. Among the largest are America’s national banks:

Wells Fargo & Co. (NYSE: WFC),

Bank of America Corp. (NYSE: BAC) and Citigroup Inc. (NYSE: C).

Among less well-known banks, U.S. Bancorp (NYSE: USB) and PNC Financial ServicesGroup (http://247wallst.com/banking-finance/2015/02/25/will-american-banks-close-thousand-of-branches/#) Inc. (NYSE: PNC) have about 3,000 locations each.

The costs to maintain branches are about the same as for any retail outlet. These include rent, people, communications systems and logistics. Shuttering a bank branch could mean dozens of employees out of work, but could also save the bank substantial money. Each of the largest banks (http://247wallst.com/banking-finance/2015/02/25/will-american-banks-close-thousand-of-branches/#) based on number of branches need tens of thousands of people to support them.

http://247wallst.com/banking-finance/2015/02/25/will-american-banks-close-thousand-of-branches/

[boutons_deux]

Our adored vampire-squid financial sector, formerly BANKRUPT, what's not to love?

[Wild Cobra]

Hmmmm....

Silly me. I just thought that with so many more people doing online banking, they don't need as many tellers and customer service, at location.

More people paying bills by internet requires less manpower processing checks also.

[Clipper Nation]

All hail Boutons' favorite job creators:


During the Great Recession, though, as tax revenues plunged, federal, state, and local governments began shedding jobs. Even now, with the economy regaining strength, public sector employment has not bounced back... The Labor Department counts half a million fewer public sector jobs than before the start of the recession in 2007. That figure, however, understates just how much the government’s workforce has shrunk, said Elise Gould, an economist at the Economic Policy Institute, a labor-oriented research organization in Washington. That is because it fails to account for the normal growth in the country’s population: Factor that in, she said, and there are 1.8 million fewer jobs in the public sector for people to fill.

The decline reverses a historical pattern, researchers say, with public sector employees typically holding onto their jobs even during most economic downturns.

Because blacks hold a disproportionate share of the jobs, relative to their share of the population, the cutbacks hit them harder. But black workers overall, women in particular, also lost jobs at a higher rate than whites, Laird found. There was a "double disadvantage for black public sector workers," she said. "They are concentrated in a shrinking sector of the economy, and they are substantially more likely than other public sector workers to be without work."

https://www.bostonglobe.com/business/2015/05/24/cuts-government-jobs-hit-black-families-harder/qqsTmAEoB4pO8bk20qL9EJ/story.html#skip-target2

[CosmicCowboy]

SMALL business is your primary job creator. I thought everyone knew that.

[boutons_deux]

All hail Boutons' favorite job creators:

https://www.bostonglobe.com/business/2015/05/24/cuts-government-jobs-hit-black-families-harder/qqsTmAEoB4pO8bk20qL9EJ/story.html#skip-target2

right-wing austerity has killed 1000s of job at IRS after cutting budget by $1B+

and red-states have been firing teachers by the 100Ks for several years, since Repugs value the stupid, ignorant, uneducated base. Just wave god/guns/gays/black-brown-vaginas/dismembered-fetuses, and the base's knees will jerk in reliable unison.

[Wild Cobra]

SMALL business is your primary job creator. I thought everyone knew that.

You forget.

These libtards think government creates jobs, and corporations take them away.

[Blizzardwizard]

You forget.

These libtards think government creates jobs, and corporations take them away.

They do. Wait no, corporations do create some jobs, but they are either less than living wage or cushy pay packets for their fellow 1% private sector buddies.

[pgardn]

You forget.

These libtards think government creates jobs, and corporations take them away.

This definitely can happen and has happened.

[boutons_deux]

You forget.

These libtards think government creates jobs, and corporations take them away.

:lol you're so fucking stupid

Try cutting the military budget and listen for howls from the MIC about how many Ms of jobs will be lost if taxpayers quit "creating jobs".

ITC created 100Ks of jobs in solar and wind industries. But Repugs will without fail kill solar and wind incentives, while leaving $Bs/year in the BigCarbon's pockets.

[pgardn]

You forget.

These libtards think government creates jobs, and corporations take them away.

We are the leaders of the world in Science and Technology specifically because our government funds these things.
The amount of money our government puts into basic research at universities jump starts so much business that does not have the capital to do the research, but can recognize when basic research finds something significant and can run with it.

Why don't Republicans get this?

Stop playing games with good science. Fund it.

[boutons_deux]

"leaders of the world in Science and Technology specifically because our government funds these things"

to enrich their mgmt and investors, BigCorp cutting back on research and depending on taxpayers to pay for the basic research and science. But Repug are cutting back on govt spending on research and engineering, so America is fucked and unfuckable, Repugs dragging USA down, thanks!