Future of Work

Wage growth at highest since 2008 with record numbers in employment

Wage growth in the UK accelerated to 3.6% in the year to May 2019, the highest rate since 2008, according to Office for National Statistics figures. Wages have been outpacing inflation since March 2018. A record high of 32.75 million people were in employment up to the end of May, while 1.29 million were out of […]

Sports Direct delays results over House of Fraser trading

Shares in Mike Ashley’s Sport Direct have fallen sharply after it delayed its results, citing uncertainty about trading at the House of Fraser chain it bought last year. The company, whose results were due on Thursday, added its auditor, Grant Thornton, was facing increased scrutiny of its work for Sports Direct. Sports Direct also indicated […]

Thomas Cook in £750m rescue deal talks

Troubled travel company Thomas Cook is in £750m rescue talks with banks and its largest shareholder, Fosun. The measures, which have not been finalised, would see the Chinese investor buy the firm’s tour business. Thomas Cook’s chief executive, Peter Fankhauser, said the proposal was “not the outcome any of us wanted” but insisted it was […]

Ford to axe 12,000 jobs in Europe

Car giant Ford has said it is planning to cut about 12,000 jobs across its European operations by the end of 2020. The carmaker is trying to cut costs and restructure its European business, which is losing money. It plans to have closed five of its plants by the end of next year, including the […]

Robots to replace up to 20 million factory jobs by 2030

Up to 20 million manufacturing jobs around the world could be replaced by robots by 2030, according to analysis firm Oxford Economics. People displaced from those jobs are likely to find that comparable roles in the services sector have also been squeezed by automation, the firm said. However, increasing automation will also boost jobs and […]

Go your own way? Massive year-on-year increase in people looking to ‘go it alone’

The face of the UK business landscape is constantly changing, with increasing amounts of people looking for a freelance lifestyle according to figures released today. Simply Business, one of the UK’s biggest providers of business insurance, today reports a 31% annual increase in people looking to go freelance. Providing small business insurance to over 500,000 […]

Outsourcer Kier to cut 1,200 jobs as it seeks to cut costs

Troubled construction and services firm Kier has said it will cut 1,200 jobs as it seeks to make cost savings of £55m a year by 2021. The cuts came as the firm’s boss announced a plan to simplify Kier’s business and reduce its debt. The company will sell its homebuilding business, Kier Living, and will […]

Sir Philip Green in final bid to save retail empire

Sir Philip Green has made a last-ditch attempt to save his retail empire from collapse by seeking a less severe rent reduction from landlords of his stores. Earlier this week, a vote on Sir Philip’s rescue deal for Arcadia, which includes Topshop, was postponed after some landlords refused to back it. Sir Philip is now […]

Insurer Aviva to cut 1,800 jobs worldwide

UK insurer Aviva has said it will cut 1,800 jobs worldwide over the next three years in order to reduce costs, and plans split its business into two. Aviva has offices in 16 countries and a global workforce of 30,000 people, with 16,000 employees in the UK. The firm’s UK sites include London, Norwich, York, […]

Sports Direct makes Game digital takeover bid and warns of job losses

Mike Ashley’s retail empire Sports Direct is making its latest High Street expansion move with a £51.9m bid for Game Digital. Sports Direct said it will offer 30p a share for Game Digital under the cash bid, which was triggered after it upped its stake in the chain to 38.5%. But Sports Direct warned there […]