Redundancy Watch - 25% of companies to make redundancies

[msi]

2 hours ago, fellow said:

Staff at Douglas Allen [Estate Agency] face job losses with six branches set to close next week

https://propertyindustryeye.com/eye-newsflash-staff-at-douglas-allen-face-job-losses-with-six-branches-set-to-close-next-week/

 

now where is my tiny violin....

[fellow]

Barclays bank to cut 450 jobs across business

https://www.independent.co.uk/business/barclays-bank-to-cut-450-jobs-across-business-b2409877.html

Quote

 

British bank Barclays has told staff it is planning to cut around 450 jobs across the business, trade union Unite has said.

Unite said its members were informed by the bank of the decision on Tuesday.

Mid- to senior-level staff at the business’s head office are likely to be affected, the PA news agency understands.

It follows reports over the weekend that the banking giant was looking to trim costs while working on a wider strategy review.

 

 

[fellow]

Derby Alstom train factory jobs fear as orders dry up

https://www.bbc.co.uk/news/uk-england-derbyshire-66786286

Quote

 

Derby City Council is seeking talks with train builder Alstom over reports it could be about to lay off workers.

The firm's Litchurch Lane site is the only UK train factory able to design, build, engineer and test trains for domestic and export markets.

About 2,000 people work at the factory but the firm says its current order book only runs until early 2024.

The council said it was "shocked" to see reports of potential job losses and wanted to give any support it could.

Newspaper reports said the company had been relying on existing orders from HS2 but as these have been pushed back it was now looking to reduce its workforce.

It is estimated, as well as the core jobs, the factory also supports 1,400 supply chain companies employing about 17,000 people.

 

 

[msi]

Deloitte to cut 'more than 800 jobs in the UK'

The proposed job losses represent a 3% cut in the company's 27,000-strong workforce in the UK, a source told Reuters news agency.

[dpg50000]

7 hours ago, msi said:

Deloitte to cut 'more than 800 jobs in the UK'

The proposed job losses represent a 3% cut in the company's 27,000-strong workforce in the UK, a source told Reuters news agency.

The job cuts in the UK appear to be coming quite steadily now, though I do think they will pick up pace before things improve.

[regprentice]

Wilkos has finally gone. The Range bought the brand name for £5mn (presumably to brand a range of cheap tat housewares) and 75 stores were sold to poundland but with no transfer of staff.

The government should look at why the insolvency process discourages people from buying/stepping in until the very last second. There were many proposals along the way that fell through that would have been better for british jobs but it seems from the moment they took out £77mn in dividends right up until the companies last breath the owners always wanted to take just a little more or agree a slightly better deal than there was to be had. 

[Frankie Teardrop]

2 hours ago, regprentice said:

Wilkos has finally gone. The Range bought the brand name for £5mn (presumably to brand a range of cheap tat housewares) and 75 stores were sold to poundland but with no transfer of staff.

The government should look at why the insolvency process discourages people from buying/stepping in until the very last second. There were many proposals along the way that fell through that would have been better for british jobs but it seems from the moment they took out £77mn in dividends right up until the companies last breath the owners always wanted to take just a little more or agree a slightly better deal than there was to be had. 

The owners didnt want to sell it for "below market value" and were so accustomed to taking money out of the business and it paying them lifestyles they werent able to afford. Unfortunately they were so obstinate the administrators had to be called in.

This is foreshadowing what will be happening to home owners in the next few years.

[msi]

1 minute ago, Frankie Teardrop said:

The owners didnt want to sell it for "below market value" and were so accustomed to taking money out of the business and it paying them lifestyles they werent able to afford. Unfortunately they were so obstinate the administrators had to be called in.

This is foreshadowing what will be happening to home owners in the next few years.

I feel that's being generous. I'm more with @regprentice on this one.   Smells like a Debenhams case....

[yodigo]

35 minutes ago, Frankie Teardrop said:

The owners didnt want to sell it for "below market value" and were so accustomed to taking money out of the business and it paying them lifestyles they werent able to afford. Unfortunately they were so obstinate the administrators had to be called in.

This is foreshadowing what will be happening to home owners in the next few years.

You see this on Kitchen Nightmares etc, the owners take the profits, the restaurant slowly deteriorates until it's so filthy and worn out few want to eat there.. Then the owners blame everyone else - servers, cooks. customers... sad really 

[Fromage Frais]

4 hours ago, regprentice said:

Wilkos has finally gone. The Range bought the brand name for £5mn (presumably to brand a range of cheap tat housewares) and 75 stores were sold to poundland but with no transfer of staff.

The government should look at why the insolvency process discourages people from buying/stepping in until the very last second*. There were many proposals along the way that fell through that would have been better for british jobs but it seems from the moment they took out £77mn in dividends right up until the companies last breath the owners always wanted to take just a little more or agree a slightly better deal than there was to be had. **

?

A waste of time because its obvious.

If there is something worth having and more than one person wants it .... it will go right away.  

if not then best to wait as they are not making money and they will come to your way of thinking.

For sure some estate agents and builders are saying a similar thing about houses... that the government should step in and prevent price discovery or lower rates so that there are more buyers at a higher level.

As for the latter imho people try and save face before the end if I had a £ for every business owner insisting on x/y/z that I have seen finally get pushed into admin and then the business gets sold for the right price.

They may well have wanted a price that gives them what they want and once they are out of the way the real deals can be done.



 

Edited September 14, 2023 by Fromage Frais

[Dames]

Well i think more redundancies in construction not far away . Just heard that come November, there's basically nout happening with one of the HBs i work on.

Anecdotal of course but I'm taking it seriously given where info came from.

 

D

 

[msi]

Tata Steel: Port Talbot steelworks given £500m by UK government (but still 3000 job losses)

Port Talbot's steelworks will be given up to £500m by the UK government in a bid to keep the plant open and produce steel in a greener way.

Tata steel will add £700m of its own as it invests in cutting emissions. It has asked ministers to provide a bigger chunk of the cost.

But the package is likely to mean as many as 3,000 job losses at Port Talbot.

[zugzwang]

44 minutes ago, msi said:

Tata Steel: Port Talbot steelworks given £500m by UK government (but still 3000 job losses)

Port Talbot's steelworks will be given up to £500m by the UK government in a bid to keep the plant open and produce steel in a greener way.

Tata steel will add £700m of its own as it invests in cutting emissions. It has asked ministers to provide a bigger chunk of the cost.

But the package is likely to mean as many as 3,000 job losses at Port Talbot.

Savage.

[msi]

6 minutes ago, zugzwang said:

Savage.

Half a Billion and a kick in the teeth for redundancies.  That won't win votes.

[Wurzel Of Highbridge]

Have a guess who has financial connections to TATA?

No money to repair schools though...

Love the Torys.

[fellow]

Up to 125 dock workers to lose jobs at Port of Liverpool as redundancy talks begin

https://www.liverpoolworld.uk/news/up-to-125-dock-workers-to-lose-jobs-at-port-of-liverpool-4348352

Quote

Up to 125 staff could be made redundant at The Port of Liverpool due to a drop in container volumes. Owners Peel Ports, said the decision was ‘regrettable but unavoidable’. In the first half of 2023, there was a drop in UK container volumes of around 12%, following a 7% decline in 2022. The company is scheduled to start issuing formal notices over the next 45 days following discussions with unions. The terminal employs around 850 staff.

 

[msi]

Fortnite maker Epic Games cutting 16% of workforce

Epic Games, which makes Fortnite, one of the world's most successful video games, is cutting 870 jobs - around 16% of its workforce.

[fellow]

34 minutes ago, msi said:

Fortnite maker Epic Games cutting 16% of workforce

Epic Games, which makes Fortnite, one of the world's most successful video games, is cutting 870 jobs - around 16% of its workforce.

Unreal. At least their staff were given two weeks notice.

[Dames]

2 of my grandsons tell me Fortnite is old hat now.

 

D

[fellow]

Up to 90 redundancies at Esure

https://www.glasgowtimes.co.uk/news/23822518.glasgow-employees-shocked-news-redundancies-esure/

Quote

 

A spokesperson for the insurance company has confirmed they are currently undergoing a consultation process as they reorganise the business. 

While alternative roles have been offered to some employees to reduce the total number of redundancies, it is understood up to 90 people could be made redundant between the Glasgow and Manchester offices. 

 

 

[fellow]

On 28/09/2023 at 20:25, msi said:

Fortnite maker Epic Games cutting 16% of workforce

Epic Games, which makes Fortnite, one of the world's most successful video games, is cutting 870 jobs - around 16% of its workforce.

It's all the gamers' fault apparently 😲:

Epic Claims They Could’ve Saved Those 900 Jobs if You’d Just Bought Some More Dances and Skins

https://hard-drive.net/hd/video-games/epic-claims-they-couldve-saved-those-900-jobs-if-youd-just-bought-some-more-dances-and-skins/

Quote

 

Following a layoff of nearly 20 percent of their staff, Epic Games, the creators of smash hit Fortnite, said the largest factor was you personally not buying more skins and dances, sources have confirmed. 

“Some are saying the reasons for these layoffs are exuberant CEO salaries and a series of reckless acquisitions we overspent on,” said Epic CEO and founder Tim Sweeney, shortly after announcing the layoffs.

“But that’s not it at all. It’s your fault. You, the gamer reading this. When was the last time you brought something to this arrangement? We are modern Robin Hoods that stood up to Apple that one time and give you a bunch of free stuff, when was the last time you spent money on buying one of the hundreds of pre-existing character skins in our shops, each carrying a license we spent multiple employees’ salaries on acquiring!? Why don’t you buy one of the many dances we pilfered and changed just enough from online creators while you’re at it?! There was literally no other option we could see but to send over 800 employees, who just helped us have some of our most profitable years, into the chaos of joblessness in an already-crowded market.”

 

[fellow]

More UK gaming job losses:

Horsham based Creative Assembly has confirmed that it will be making redundancies following the cancellation of Hyenas.

https://www.videogameschronicle.com/news/creative-assembly-confirms-plans-to-make-redundancies-after-hyenas-is-cancelled/

Quote

 

Parent company Sega announced on Thursday that it was cancelling the multiplayer shooter “and some unannounced titles under development” in Europe.

It also said it planned to reduce its fixed expenses in Europe, with a focus on cutting costs at Horsham, England-based Creative Assembly.

In a new statement, Creative Assembly has confirmed that it has begun a redundancy consultation process in some areas of its UK operations.

“This may, unfortunately, result in job losses,” it said.

 

 

[Armus]

6 hours ago, fellow said:

It's all the gamers' fault apparently 😲:

Epic Claims They Could’ve Saved Those 900 Jobs if You’d Just Bought Some More Dances and Skins

https://hard-drive.net/hd/video-games/epic-claims-they-couldve-saved-those-900-jobs-if-youd-just-bought-some-more-dances-and-skins/

Proves what a bunch of dimwits their management is.

[Blobsy]

1 minute ago, Armus said:

Proves what a bunch of dimwits their management is.

Just think, we could have saved Woolworths, if only we’d bought more pick n mix.

[fellow]

Jeremy Hunt aims to cut 63,000 Civil Service jobs

https://www.telegraph.co.uk/news/2023/10/02/eremy-hunt-pledges-to-sack-63000-civil-servants/