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Post by RDR on Apr 20, 2009 22:51:30 GMT
but there's nearly 4 more years to go (at least) isn't there? So the TCS deal will effectively be the final nail in the L&G coffin? L&G might just about be able to limp through the next four years without launching any major new products in a timely manner. But if there are any major legislative changes that need to be implemented then they're a bit stuffed really. The retail distribution review is massive and could have some far reaching consequences in how we provide our investment and pension products. There are already changes in charging structures and payments of commissions in the IFA products that are being forced on us over the next 12 - 24 months which FPF currently cannot manage. I am assuming from what I have read here that we are not well positioned to manage that change.
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Post by dumbanddumber on Apr 21, 2009 19:54:01 GMT
What is the retail distribution review ? We have a communications team in L&G ... but they don't communicate about things that matter.
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Post by Lone Ranger on Apr 22, 2009 8:41:46 GMT
See www.fsa.gov.uk/Pages/About/What/rdr/index.shtmlOver the past 9 months approximately 150 man years of highly skilled FPF experience has been lost, mainly through contractors being released. Within 6 months, a large amount of useful FPF permanent resources (another 50 man years of knowledge) will also be lost. The TCS on/off shore resources that have undergone 'knowledge aquisition' will replace these people. Their FPF experience amounts to about 5 man years. Are TCS well-positioned to manage the RDR change? To those with their eyes open and blinkers off it pretty obvious - Do the sums 200 man-years v 5 man-years.............. A little ditty comes to mind. No wheels on my wagon, So I’m not rolling along The Cherokees captured me They look mad, things look bad But I’m singing a happy song (Because I'm out of it!!!)
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Post by Totally Tonto on Apr 22, 2009 16:39:39 GMT
The other mainframe areas seem to have taken big hits as well. Half of BSD was 50% contractor & 3rd party and they are nearly all gone. The cuts I know about will leave the mainframe teams with less than 25% of the experienced developers they used to have. On 2 "new" business critical systems the figure is about 15%. Some of these systems have very limited documentation. Good experienced (motivated?) developers can read the code and run tests and reverse engineer the specs. No one else can!
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Post by Do they know on Apr 22, 2009 17:38:34 GMT
Hi everyone - I came across this site yesterday and have spent many happy hours reading through everything.... Not all of made a lot of sense but looks like you guys are really going through it
anybody thought to tell the top man?
does he know?
do the shareholders?
how about a link to this site on the company report!
Good luck fellas!
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Post by Losers Everywhere on Apr 22, 2009 18:39:26 GMT
The other mainframe areas seem to have taken big hits as well. Half of BSD was 50% contractor & 3rd party and they are nearly all gone. The cuts I know about will leave the mainframe teams with less than 25% of the experienced developers they used to have. On 2 "new" business critical systems the figure is about 15%. Some of these systems have very limited documentation. Good experienced (motivated?) developers can read the code and run tests and reverse engineer the specs. No one else can! Yep, and yet amazingly, the managers have secured their own futures - even though they don't have any *REAL* skills. (in their defence, they do know how to point fingers, bark "orders", and shuffle papers - these are a type of skill I suppose) It will be very interesting to see how this develops from both sides, and I shall be watching from the touchlines.
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Post by DoYouBelieveMe on May 10, 2009 12:04:43 GMT
If I recall wasn't the deal a natural break after 2 years if it wasn't working out, or 5 years total ? So June 1st 2010 I can't see TCS and LandG in bed.
As others have mentioned I know for certain other areas are already looking to other providers for pieces of work as TCS cost too much to get to the table.
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theyaresackingeverybody
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Post by theyaresackingeverybody on May 13, 2009 15:45:15 GMT
They are sacking everybody.... 560 announced yesterday, 46 today.... how many tomorrow? What a happy place this is. If in doubt get rid of everybody. I presume the new 'Dame' they are hiring will end up doing all the work.
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Post by Fedup on May 13, 2009 20:30:32 GMT
I got spammed by Ushite today. If I join, everything will be ok!
Then I got another spam from the shep-woman reassuring me that the support function review is going 'really well' and that further changes (redundancies no doubt) will be announced in due course.
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Post by Ex contractor on May 21, 2009 10:07:40 GMT
Its been very quiet on this site since 13/5 - is there no one left at L & G or just no one who cares? How many IT staff have now been outed, also how many in other areas of the company? Have TCS actually delivered ANYthing in the nearly 12 months they have been there? Have there been any disasters or near disasters due to the mass exodus of knowledge? Is the Noakes creature still in its post?
Interested to know....
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