The note on cost saving measures is issued. The response from staff is a lot more dramatic than I would have expected. The most immediate feedback comes from the Retail Bank, because they have a good Intranet site with "Team Talk"- a sort of chatroom/discussion forum. (Most of us outside Retail can also access their Intranet site.)
By the end of the day, there are about 300 messages from staff posted on Team Talk, generally horrified about the cost measures, particularly the hold on promotion or other pay rises. There are also some quite vitriolic comments about Tim Jones personally. I have always been a great believer in staff communication and general openness, but I find it hard to believe Team Talk will survive long if times are going to get tough, which they undoubtedly are.
