Redundancies | Common News Update

Oct132020 by adminNo Comments

Unemployment hits three-year high amid most redundancies since 2009

Business

Unemployment rose to a three-year high over the summer and there were more redundancies than any time since 2009, official figures show.The jobless rate climbed to a larger than expected 4.5% in the three months to August, up from 4.1% a month before, as the coronavirus crisis took a further toll on livelihoods. That was the highest since April 2017, while the total number of unemployed climbed by 138,000 to 1.52 million - also the highest since early 2017 - according to the Office for National Statistics (ONS). There were 227,000 redundancies in the period, the highest level since the financial crisis in 2009 and twice as many as in the same three months of last year.The ONS figures showed the number of people in employment fell by 153,000 in the three months to August, much more than...

May42020 by adminNo Comments

Eight in 10 Indian companies not currently considering permanent staff layoffs or redundancies: Korn Ferry survey

Finance

From customer-facing staff, middle managers to executives, most respondents both globally and in India believe that adjustments to rewards and benefits as a result of Covid-19 will likely affect employees throughout the organisation, according to a survey by Korn Ferry. According to the survey, 22% of organisations surveyed in APAC expect a serious impact on their business, where the company’s annual business revenue is expected to decline by more than 30%, with around half of these respondents expecting that the impact will be at least 50%. In India, the most commonly implemented measures for rewards and benefits are on promotion and salary hike, with 23% organisations suspending the promotion increases and 18% organisations deferring and/or delaying salary increases. Three in 10 organisa...

May212019 by adminNo Comments

‘Devastated’: 1,000 redundancies as Jamie Oliver restaurant chain collapses

Business

Administrators to Jamie Oliver's restaurant chain say 22 sites have closed resulting in 1,000 redundancies after the business collapsed.KPMG said attempts to bring fresh investment into the celebrity chef's business - at a time of rising costs and fragile consumer confidence - had failed. The business was left without enough cash to trade while in administration, meaning that all but three of its 25 eateries have closed.Jamie Oliver said he was "devastated" as the collapse - first reported by Sky News - was announced. Image: 22 of the 25 sites have closed KPMG said Mr Oliver had made additional funds of £4m available since the start of this year as the business sought to attract new investment but after failing to do so "and in ...

Oct22017 by adminNo Comments

Redundancies follow Monarch Airlines collapse

Business

Administrators say 1,858 Monarch staff have been made redundant following the collapse of Britain's fifth-biggest airline.Approximately 860,000 passengers have been affected by the carrier's demise - and 110,000 people currently stranded abroad are being flown home in "the country's biggest-ever peacetime repatriation".Monarch's collapse has also meant that the future bookings of 750,000 passengers have been cancelled with immediate effect.:: What to do if you've booked with MonarchImage:Part of a letter handed to passengers at GatwickThose who have bought flights are being urged not to travel to airports, and to check the Civil Aviation Authority's website for information.Dozens of aircraft are being chartered to fly holidaymakers back to the UK - and passengers arriving back in Birmingha...