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M&S reviews redundancy benefits
Marks & Spencer is in talks with staff representatives about changing benefits surrounding redundancy for UK workers.
Trinity Mirror seeks job cuts and integration in Midlands shakeup
The Birmingham Post is switching from broadsheet to a tabloid format as part of sweeping changes to Trinity Mirror's Midlands publishing operation, which will also see 65 editorial posts axed.
In a radical overhaul of its Midlands operation, Trinity Mirror is creating two large new integrated multimedia newsrooms in Birmingham and Coventry providing editorial for five titles, including the Birmingham Post and the Coventry Telegraph.
If the global economy is as safe as houses, then there's a crash on the way
"Data compiled by Lombard Street Research shows that the M3 'broad money' aggregates fell by almost $US50 billion in July, the biggest one-month fall since modern records began in 1959."
This might, on its own, be dismissed as Ambrose doing what he does best, hunting down headlines. But this article does not exist in a vacuum.
Unhappily, Professor Nouriel Roubini is in a glum mood even by his standards.
"The UK economy is not my brief," he writes, "but I see that hedge funds are circulating a report from the US guru Jeremy Grantham predicting a very bad end to Gordon Brown's debt experiment.
"The UK housing event is probably second only to the Japanese 1990 land bubble in the Real Estate Bubble Hall of Fame. UK house prices could easily decline 50% from the peak, and at that lower level they would still be higher than they were in 1997 as a multiple of income." That is one hell of a call.
"If prices go all the way back to trend, and history says that is extremely likely, then the UK financial system will need some serious bail-outs and the global ripples will be substantial," says Grantham.
Indesit confirms 423 job losses
THE worst fears of hundreds of Peterborough workers became reality yesterday (August 18) when fridge maker Indesit confirmed it is to shut its city manufacturing plant.
Following a 90-day consultation, the white-goods company has announced it will end production at the factory, in Woodston, on November 28, with the loss of 423 jobs. Bosses have blamed a downturn in the market for free-standing fridges for the decision, saying the plant had become unsustainable.
Job security fears affect more than half of IT contractors
Fears over job security are affecting more than 50 per cent of IT contractors compared with just one in 10 six months ago.
More than half of contractors said they are concerned about job security, compared with just 12 per cent in February, as redundancies increase 20 per cent across the sector. One in three IT companies are making job cuts, according to the research
Warning to agriculture bosses as UK-wide redundancies loom
Agriculture bosses planning redundancies should be on 'red alert' for falling foul of employment law a leading law firm is warning following surveys revealing that widespread job losses are looming.
DIY chain HOMEBASE is drawing up plans which could see hundreds of staff offered redundancy.
The retailer intends shake-ups in a third of its 302 UK stores.
Full-time staff in the affected stores will see a cut in working hours or be offered redundancy. Sun City has seen a copy of the letter which will be sent to staff at the UK’s No 2 DIY chain.
It reads: “Our store is one of a number where availability of our customer-facing colleagues does not match our trading patterns or customer demand. Also, sales performance has meant we need to review our store payroll costs.
News of the potential job losses comes days after The Sun revealed that COMET is in talks to make 100 deputy store managers redundant.
Redundancies loom as 20:20 and Dextra businesses merge
20:20 is set to make a raft of redundancies at its UK business, as it looks to eradicate duplication in functions across its 20:20, Dextra Solutions and Caudwell Logistics divisions.
It comes after the long-awaited integration of the separate businesses. James Browning (pictured, right), the former Dextra chief, has been appointed MD of the new UK business, with 20:20 boss Trevor Price moving to the Middle East.
The company is currently building its new UK management team, using the individuals who had headed up the Dextra and 20:20 businesses.
A further rung of the sales, purchasing, marketing and finance functions are expected to be reviewed in the coming weeks.
Oldersma said: ‘In the three-year plan we’ve written, we’ve seen that the UK is flat. It is simply not growing. The organisational design had to reflect that. It had to be more relationship based, and on process.’
Homes group announces redundancies
REDROW homes says that 30 workers from its Preston Brook offices will be transferred to other parts of the business when the office closes at the end of September.
The remainder of the 70 Preston Brook staff will be made redundant.
Linda Bright, on behalf of Redrow, said: “The housing market continues to experience an extremely challenging environment as a result of the credit squeeze.
“With no immediate prospect of a change in market conditions, like many other housebuilders we have had to make further significant reductions in employee numbers. Š
“As a consequence of this review, we announced the proposed closure of two offices in our trading update in early July and those closures have been subject to a consultation period with staff affected.