Peloton slashes 500 more jobs as it pins hope on turnaround plan October 6, 2022 Peloton said it plans to slash 500 more jobs, as chief executive Barry McCarthy gives the company six months to turn its run of bad luck around. The dramatic move knocks about 12 per cent from the exercise bike maker’s headcount to roughly 3,800 employees globally, and adds to the tide of staff cuts that [...]
Aldi kickstarts festive hiring spree with 3,000 new jobs this Christmas October 6, 2022 Aldi has launched its festive hiring spree, revealing plans to create around 3,000 new jobs this Christmas. The discounter has created more than 2,000 temporary and permanent store jobs this winter. It also unveiled plans for more than 850 roles across its 11 regional distribution centres around the UK, for jobs including warehouse selectors, logistics [...]
Amazon to pay staff £500 cost of living payment as union urges tech giant to do more October 6, 2022 Amazon will make a one-off payment of up to £500 for its hourly paid employees to help them with the cost of living crunch while it attempts to fend off union criticism on pay. Employees will receive two instalments of £250, one this month and one later in December. It comes as Amazon has received [...]
Diageo toasts ‘good start’ to year as drinkers’ thirst resilient despite economic slump October 6, 2022 Guinness owner Diageo has raised a glass to resilient demand for drinks despite a consumer spending slowdown. In a brief trading update on Thursday morning, the London-listed beverage giant said it had made a “good start” to its 2023 fiscal year. Chief executive Ivan Menezes noted “organic net sales growth across all regions” as the [...]
Consumer squeeze ‘worse than I have ever known’ says ex CBI boss and Cobra Beer chair October 6, 2022 Consumers are being squeezed by “worse than I have ever known,” the former chief of the Confederation of British Industry (CBI) and the founder of Cobra Beer has said. Speaking on BBC Radio 5 Live’s Wake Up to Money programme, Lord Karan Bilimora was asked about the impact of industrial action this month – with [...]
Victorian Plumbing bucks trend as bathroom retail sales surge October 6, 2022 Victorian Plumbing has defeated the trend amid a subdued bathroom market and lauded rising sales this year. In full year results, the AIM-listed firm said it was trading ahead of consensus market expectations, both revenue and earnings wise. Its second-half revenue was up around per cent on last year, with sales performing especially well in [...]
High street spending slumps amid retail’s Covid recovery October 6, 2022 The high street’s Covid recovery has been slowed by the economic slump, with shoppers cutting back on shopping sprees last month. According to freshly published statistics from Springboard, the recovery of retail footfall slowed for the third month in a row. Footfall increased just 6.8 per cent, compared to a 15.6 per cent boost in [...]
Nightclubs hit back at killjoy neighbours as sector stares down ‘fight for survival’ October 6, 2022 The nightclub industry is facing a battle for survival after residents have become accustomed to quieter nights after lockdown, according to bosses. Late night venues in the UK have been attacked by an exponential increase in noise complaints, especially in London hubs, the Night Time Industries Association (NTIA) has claimed. Nightclubs were closed from March [...]
Tesco: Shoppers ‘watching every penny to make ends meet’ October 5, 2022 Tesco has warned of “tough times” as Brits are “watching every penny to make ends meet” this winter. The grocery giant reported a slimmer profit for the first half, after customer behaviour has normalised after lockdown and the supermarket has invested in keeping its prices competitive for shoppers. The country’s largest supermarket posted a £413m [...]
Topps Tiles tops full year expectations as the DIY boom continues October 5, 2022 Sales continued to climb for Topps Tiles as the DIY boom shows no signs of stopping beyond the pandemic. Group sales in the 52-week period were approximately £247.3m, a second consecutive record year of turnover, with year on year sales growth of 10.6 per cent. Topps Tiles said it continued to perform well against a [...]