The US added 315,000 nonfarm payrolls in August 2022, representing the smallest job gain since April 2021. The figure comes after a downwardly revised 526,000 result in July. The report exceeded market forecasts of 300,000 jobs and indicated a remaining tightness in the labour market. The positive jobs results will boost speculation in the markets […]

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Catering and hospitality jobs increased by 10% to 58% of the average in February 2020 The number of new job postings is rapidly rising as the UK is finding its way out of the pandemic. The Office for National Statistics (ONS) said on Thursday that job listings have now reached the level they were at […]

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New figures suggest that the London job market is falling behind the rest of the country. The Recruitment & Employment Confederation (REC) revealed on Friday that whilst job advertisements were rising in the north-west England and Wales, London was seeing a fall. Between March and October, job adverts in the north-west jumped 36.8% whilst in […]

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More than 2,900 employees are now at risk of losing their jobs after it was announced on Friday that clothing retailer Edinburgh Woollen Mill and homeware suppliers Ponden Home have fallen into administration. Both brands are owned by EWM Group, which is still negotiating a potential rescue deal that could save its remaining brands – […]

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Sainsbury’s (LON: SBRY) has announced plans to cut 3,500 jobs. The supermarket will closes meat, fish and deli counters as well as 420 standalone Argos stores. The news came as Sainsbury’s posted a pretax loss of £137m for the six months ended 19 September. This loss is down from a £9m profit a year earlier. […]

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John Lewis has announced plans to axe a further 1,500 head office jobs in an attempt to return to profit. The retailer said on Wednesday that it plans to cut the additional jobs as part of a target to annually save £300m. “Our partnership plan sets a course to create a thriving and sustainable business […]

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A new report by the Office for National Statistics (ONS) has outlined the impact of the coronavirus pandemic on the number of UK employees paid below the National Minimum Wage. The newly-released figures show that 2,043,000 people aged 16 and over – that’s 7.2% of the total UK workforce – were paid less than £8.72 […]

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HSBC (LON: HSBA) has reported a 36% year-on-year drop in profits to $3.1bn (£2.4bn). As profits fell for the three months to September, the lender warned that it could start charging customers for “basic banking services”. “This latest guidance, which continues to be subject to a high degree of uncertainty due to Covid-19 and geopolitical […]

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Pret a Manger has revealed plans to axe 400 jobs and close 6 London stores after a slump in sales. The sandwich chain has struggled since people have switched to homeworking and city centres have seen a reduction in footfall. Sales at Pret A Manger have fallen to their lowest in a decade due to […]

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British brewery, pub and hotel operator Marston’s plc (LON:MARS) has seen its share price slide nearly 5% after announcing it will cut up to 2,150 furloughed jobs. The government’s wage subsidy scheme is set to wrap up at the end of the month, and with a swathe of British cities facing further coronavirus restrictions which […]

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Gourmet Burger Kitchen will be axing 26 restaurants and 326 jobs in an attempt to save the wider workforce. As reported by Sky News, the chain will continue to operate in 35 sites with the remaining 669 jobs, however, 26 restaurants will be sold to Ranjit Boparan. Earlier this year, Boparan rescued the Carluccio’s chain […]

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Peacocks owner, Edinburgh Woollen Mill, is on the brink of collapse. The group has appointed administrators in an attempt to rescue the struggling business, which has been hit by the “brutal” trading conditions. Over 24,000 jobs are at risk if the owner of the Peacocks brand goes under. Edinburgh Woollen Mill (EWM) has 1,100 stores […]

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HSS Hire shares (LON: HSS) surged as the group revealed cost-cutting measures and plans to invest in its digital platforms. The group, which employs 2,000 across the UK, will close 134 branches as well as axe 300 jobs. The tool-hire group has been hit hard amid the difficult trading environments and reported a £12.5m loss […]

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TSB – owned by Spanish firm Banco de Sabadell (BME:SAB) since 2015 – has seen its shares emerge unscathed on Wednesday afternoon despite the news that the bank plans to shut 164 branches and cut up to 1,000 jobs across the UK. Blaming the decline in customers visiting high street banks on the coronavirus pandemic, […]

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Shares at International Consolidated Airlines Group (LON: IAG) have slid almost 4% after British Airways (BA) chief executive Alex Cruz told MPs: “We’re still fighting for our own survival”. Concerns over the struggling airline came to ahead as Cruz spoke to the Transport Select Committee on Wednesday, confirming a slump in travel caused by the […]

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Domino’s Pizza (NYSE: DPZ) has revealed plans to create 6,000 new roles over the Christmas period. Thanks to a surge in sales over the pandemic, the takeaway pizza chain has said it will create 5,000 new roles and 1,000 placements for young people. First-half sales of this financial year leapt 5% as people enjoyed their […]

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The travel sector is calling on the government for support as it continues to be hit hard amid the pandemic. The latest firm to fall victim is STA Travel, which over the weekend ceased trading after the business was brought to a “standstill”. As the UK falls into the deepest recession on record and the […]

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In the latest blow to the high street, Debenhams has announced plans to axe 2,500 jobs in its department stores and warehouses. In addition to the 4,000 roles the retailer has cut since May, Debenhams will be cutting up to a third of its total workforce in an attempt to survive the pandemic. The department […]

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High street newsagent WH Smith (LON:SMWH) has become the latest UK retailer to announce a restructuring plan after sales were slashed by the impact of the coronavirus pandemic in the first half of 2020. The firm has reportedly begun to consider axing as many as 1,500 jobs – 11% of its total workforce – primarily […]

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Kingfisher (LON: KGF) reported strong sales on Wednesday, leading to the B&Q owner to forecast a rise in half-year profits. For the quarter to 18 July, the group reported a 21.6% rise in like-for-like sales compared to the same period a year previously. Kingfisher started reopening stores across the UK and France from mid-April, whilst […]

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Marks & Spencer (M&S) will reportedly announce hundreds of job cuts this week. According to a Sky News report, the retailer will be revealing a redundancy plan that may affect thousands of employees. During the lockdown, M&S closed between 100 – 120 stores and furloughed 27,000 of its 78,000 employees. Many of these employees have […]

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Fashion retailer Primark, an Associated British Foods (LON:ABF) subsidiary, has turned down a £30 million offer from the UK government for bringing back its 30,000-strong furloughed workforce. The high street clothing chain stated that it “should not be necessary” to take the government up on its offer, which includes a £1,000 bonus for each employee […]

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The US Labor Department announced a non-farm payroll jump in June, with a monthly all-time-high of 4.8 million jobs created. This surge was led by the reopening of factories and restaurants, and far surpasses both the 2.5 million joining the labour market in May, and the 3 million forecast for new jobs in June. The […]

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The Society of Motor Manufacturers and Traders state that there is a ‘critical need’ for help as it claims up to one in six car industry jobs will be at risk as the furlough scheme comes to an end. With one in three staff still on furlough across the industry – and with this support […]

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The Centre for Retail Research (CRR) has published its findings that a total of 9,949 retail jobs were lost since the start of the year, predicting a further 1,200 could go as both Beales and Hawkin’s Bazaar collapse into administration. January is a notoriously tough month for retailers, facing caution from customers following the inevitable […]

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Online fashion retailer Boohoo Group PLC (LON: BOO) has seen its share price rally on Tuesday morning, following news of its potential acquisition of clothing brands Karen Millen and Coast. The online retailer specialises in own-brand fashion, and has acquired Little Thing and Nasty Gal (2017) since its inception in Manchester in 2006. The Company […]

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  A ‘Hard Brexit’ may cost the finance industry around £38 billion and up to 7500 jobs, according to a report released today by lobbying group TheCityUK. Should the UK leave the single market and pursue a ‘Hard Brexit’ there could be serious implications for the security of the financial sector, the report concluded. It […]

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