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Tag: jobs

Liberty Steel nationalisation ‘an option’ to save 5,000 jobs

Liberty Steel nationalisation ‘an option’ to save 5,000 jobs

Business
PA MediaThe government has restated it is considering "all options" to keep Liberty Steel's UK plants and jobs afloat, including nationalisation.On Sunday, the government rejected a request for £170m in financial support for the firm.But that is due to concerns about the "very opaque" structure of its owner GFG, a minister said.Business Secretary Kwasi Kwarteng said the government could not put money into a "black box".Mr Kwarteng told the BBC's Today programme that Liberty Steel was "an important national asset" but that the structure of its owner - Gupta Family Group (GFG) - was "very opaque" and "not helpful"."We are custodians of taxpayer's money... and we feel that if we gave the (£170m) money, there was no guarantee that the money would stay in the UK, and would protect British jobs...
Thorntons leaves 600 jobs at risk through town centre exit

Thorntons leaves 600 jobs at risk through town centre exit

Business
Thorntons, the chocolate retailer, has announced plans to permanently close its entire UK store estate of 61 sites.The company said its decision, which was now the subject of consultation with employees, would affect 603 workers but said it hoped to redeploy some of those affected. Thorntons said it was based not only on the impact of COVID-19 lockdowns over the past year but factors related to the pandemic across the retail sector. Please use Chrome browser for a more accessible video player 'We want to open at exactly the same time as non-essential retail' ...
Greensill collapse leaves 5,000 steel jobs in balance

Greensill collapse leaves 5,000 steel jobs in balance

Business
Some 5,000 jobs in the steel industry are in the balance after Greensill Capital, one of the UK's largest speciality finance companies, went into administration.Greensill, whose advisers include the former prime minister David Cameron, is a major provider of finance to Liberty Steel - the UK's third largest steel company. Liberty, which is part of the GFG Alliance controlled by the so-called "Saviour of Steel" Sanjeev Gupta, employs 3,000 people directly at 11 sites including Rotherham and Stocksbridge in south Yorkshire, Newport in South Wales and Hartlepool. Image: Lex Greensill has enjoyed a rags-to-riches rise It also supports at least 2,000 more jobs in the supply chain.The site at Stocksbridge, where 762 people are employed, is ...
Jaguar Land Rover to cut 2,000 non-factory jobs globally

Jaguar Land Rover to cut 2,000 non-factory jobs globally

Business
Jaguar Land Rover (JLR) has announced plans to cut 2,000 non-factory jobs - days after it committed to its UK plants and revealed a huge investment in a zero-emission future.The company said it had begun on Wednesday to inform colleagues on the findings of an organisational review that is designed to slash costs and create a more "agile" business. A statement confirmed its hourly-paid manufacturing workers would not be affected by the cuts which, the company said, would be completed next year as its transition to an all-electric fleet by 2030 gathers pace. Image: A electric Range Rover made by Jaguar Land Rover JLR said: "This week's announcement outlines our future strategy not only including plans for our brands and vehicles, but al...
Sluggish US jobs growth strengthens coronavirus stimulus call

Sluggish US jobs growth strengthens coronavirus stimulus call

Business
US jobs growth bounced back less than expected in January while losses the previous month were worse than initially thought, latest figures show.The first set of employment data under President Joe Biden underlines the scale of the economic challenge faced as he seek to push through a $ 1.9trn (£1.4trn) COVID-19 recovery package. Please use Chrome browser for a more accessible video player 'America is back' says Joe Biden The Labor Department has said non-farm payrolls increased by 49,000 jobs last month, slightly down on economist forecas...