Future of Work

Austin Reed

Austin Reed follows BHS into administration in unforgiving retail sector

Menswear retailer Austin Reed has entered administration, putting almost 1,200 jobs at risk. A statement from the administrators blamed a “challenging” retail market and cash flow difficulties. The company, which has 100 standalone stores and is stocked in a further 50, has struggled to compete and has seen its sales fall. Austin Reed began in […]

BHS administration

Retailer BHS files for administration as customers desert

Out of fashion UK retailer BHS is going into administration today (Monday) threatening 11,000 jobs. Talks are continuing with Sports Direct to buy some of BHS’s 164 stores but it is understood any buyer would only do so if it did not have to take on its £571m pension deficit. Last year BHS was sold […]

National Living Wage Firms Go Bust

Thousands of firms could go bust because of living wage

Data from Begbies Traynor shows that 60,000 companies were already in a “dire financial state” before the scheme was introduced, and the added cost could push many over the edge. Julie Palmer, partner at Begbies Traynor, said: “Sectors that traditionally pay low salaries are most at risk, and I wouldn’t be surprised if at least […]

Over 40s three day week

Over 40s should be working a three day week says new report

The over 40s perform best at work if their working week is restricted to three days, economic researchers have found. Experts in Japan analysed the employment habits and cognitive test results for 3,000 men and 3,500 women above the age of 40 in Australia, The Times reports. Results suggest that a generation of workers contemplating a […]

Baby boomers young workers

Baby boomers accused of blocking jobs for younger workers

Young people are struggling in a jobs market that is “stuck”, according to Lord Willetts Baby boomers are causing “blockages” in the jobs market which stop young people getting promotions or pay rises because David Cameron scrapped the default retirement age. Allowing people to work into their seventies means younger workers are now earning less […]

Shared parental leave

Shared parental leave a slow starter a year on from launch

It is now a year since the launch of Shared Parental Leave (SPL). The revolutionary policy that allows couples to share leave surrounding the arrival of a new addition to their family helps women get back into the workplace quicker, and gives men the opportunity to care full time for their new baby or adopted […]

National Living Wage

National Living Wage will boost pay packets of millions of workers

Up to one in three workers in some parts of the country will receive a pay rise when the new national living wage comes into effect on Friday, a new study has revealed. Torridge in Devon, Rossendale in Lancashire, Woking in Surrey and Castle Point in Essex were named as the areas most likely to […]

Retirement baby boomers

Firms facing an £800 billion employee pensions black hole as deficit doubles

British firms are facing an £800 billion funding gap for their final salary pension pots after seeing the deficit nearly double over the past decade, according to research. The gaping hole in defined benefit (DB) pension schemes has widened from £425 billion to £800 billion since 2006, amid lower expectations on future investment returns and […]