Vanishing Capital

Finance giant axes jobs in Morley:

FINANCE giant GE Capital is to shed 100 jobs – many of them likely to be in Leeds.

The company has four sites nationwide, including two in Morley, employing around 1,600 people in the town.

Tiberius is not sure that the soon-to-be former-employees will take much comfort from the explanation given by bosses at GE Capital:

Given the current difficult economic conditions the proposals are designed to streamline our operations across our sites and maximise synergies allowing for continued growth and investment in the future. [emphasis Tiberius’]

“Streamline operation” is of course, a fairly well-worn euphamism for ‘cutting jobs’, but to “maximise synergies” is a piece of business-speak new to Tiberius.

He can imagine the depressing scene in Morley now: people drinking miserably into a pint, complaining that “I lost my job because the company was maximising its synergies” to the confused sympathy of their friends.

Published in: on March 18, 2009 at 5:41 pm  Leave a Comment  
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