Category Archives: Redundancy

UK firms mull biggest layoffs in a decade as business confidence slumps

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Impending tax rises from autumn budget fuel collapse in sentiment and rising redundancy intentions, surveys show

UK employers are preparing for the biggest redundancy round in a decade amid collapsing business confidence as firms brace for tax increases from April that Rachel Reeves announced in her autumn budget.

In a fresh blow for the chancellor, the Chartered Institute of Personnel and Development (CIPD), which represents human resources professionals, said a survey of 2,000 employers showed redundancy intentions at their highest level in 10 years, barring the Covid pandemic.

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Co-op Group to cut 400 jobs at Manchester head office

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The group blamed rising inflation for job losses as it vows to protect shoppers from higher prices

The Co-op Group is cutting 400 jobs at its head office in Manchester as the retailer said it faced tough trading conditions amid rising inflation.

The job cuts come after the Co-op, which employs more than 63,000 people including 4,000 at its head offices, warned in April of continuing problems with food supplies and inflation after its annual profits more than halved amid supply chain disruption and higher staff wages.

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Deutsche Bank starts cutting London jobs with 18,000 at risk worldwide

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Some staff in London reported to be in tears after hearing their jobs have gone

Deutsche Bank started slashing thousands of jobs in the City of London and in New York only hours after announcing a drastic plan to reduce its global workforce by 18,000.

Germany’s biggest lender employs almost 8,000 people in the UK, with 7,000 in London, which is one of the main hubs for its global investment bank, where the bulk of the job losses will be focused. The jobs being cut make up about a fifth of Deutsche’s global workforce of 91,500.

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