Tag: cuts

Extend furlough scheme ‘or risk second wave of job cuts’

Image copyright Getty Images The UK risks a second wave of job cuts and a slower economic recovery if it does not extend its furlough scheme, leading business groups have warned. Manufacturing body Make UK said the job retention scheme should last beyond October for hard-hit sectors that are already slashing posts. The CBI meanwhile said a replacement was needed… Read more →

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Bosses’ pandemic pay cuts ‘superficial’ says report

Image copyright Thinkstock The UK’s biggest listed companies have failed to address their bosses’ huge salaries during the coronavirus pandemic, a pay report claims. Despite some high-profile reports of executive pay cuts, these were mainly “superficial or short-term”, it says. Nor have firms addressed a culture of excessive bonuses,  says the report by the CIPD, the professional body for HR,… Read more →

Selfridges: Staff cuts ‘toughest decision we’ve ever had to take’

Image copyright Reuters Upmarket department store chain Selfridges is cutting 450 staff after saying that the coronavirus outbreak has led to “the toughest year we have experienced in our recent history”. In a letter to staff, boss Anne Pitcher said it was “the toughest decision we have ever had to take”. The retailer has four stores – one each in… Read more →

Collins Aerospace announces 235 job cuts amid Covid-19 downturn

Image copyright Google A County Down aerospace company has announced it is cutting 235 jobs, almost a quarter of its workforce. Collins Aerospace is an aircraft seat manufacturing plant in Kilkeel that employs over 948 people. In a statement, the company said the planned redundancies were due to Covid-19’s “impact on demand for aerospace production”. SDLP South Down MLA Sinead… Read more →

Dyson cuts 900 jobs amid coronavirus impact

Image copyright Getty Images Image caption Sir James Dyson is Britain’s richest man, according to The Sunday Times Rich List. Dyson is cutting 600 jobs in the UK and a further 300 worldwide as the coronavirus impact speeds up the company’s restructuring plans. The firm, best known for the invention of the bag-less vacuum cleaner, said the pandemic was changing… Read more →