Aldermore puts jobs at risk in retreat from invoice finance market Banking Aldermore is weighing a round of layoffs as it consults on plans to scale back its invoice finance business ahead of a sale, City AM can reveal. The Reading-headquartered lender is discussing plans to shrink its invoice finance division and slash the amount of customers it serves in the market, sources told City AM. The [...]
Tech the only bright spot as job security fears climb to highest level since 2023 Business Job security for British workers has fallen to a three-and-a-half year low across all sectors other than IT and telecoms, according to new data from S&P Global’s UK consumer index. The findings, based on a panel of 1,500 UK households, show the level of job insecurity was at its highest since February 2023 as consumers continue to [...]
Public sector makes wage growth higher than expected Economics Wage growth was higher than expected as pay offers in the public sector far outweighed growth in the private sector, new data has revealed. Official statistics have shown that wage growth, including bonuses, reached 4.1 per cent between April and June compared to a market forecast of four per cent. This was still lower than [...]
‘It’s going to impact work’: Lloyds to cut £2bn in costs with AI July 30, 2026 The boss of Lloyds Banking Group is preparing to wield the axe on its cost base as the bank doubles down on AI ambitions. Charlie Nunn, the chief executive of the financial services giant, said AI is “going to impact work” and “require us to reskill people and hire new people” as he revealed a [...]
Construction sector cuts jobs again as house building slumps July 6, 2026 The construction industry shed jobs for the 18th consecutive month in June following “sharp declines” in house building and a slowdown in new home sales. The latest S&P Global Purchasing Manager’s Index (PMI) for the construction sector showed more cutbacks to employment with another period of “sustained job shedding”. Subcontractors were also hit by the [...]
World Cup boost fails to land UK services sector on front foot July 3, 2026 A World Cup boost failed to drag the UK’s services sector to growth last month after it recorded its fastest rate of decline in three-and-a-half years as businesses braced for the Andy Burnham coronation. The latest Purchasing Managers Index (PMI) from S&P Global showed a reading of 48.8 in June, falling from 49.3 in May. [...]
Oracle slashes 21,000 jobs amid AI embrace as tech sell-off rocks Asia June 23, 2026 Software giant Oracle axed around 21,000 roles in the last year as the US tech giant turbocharged its AI adoption plans – even as markets continue to question the rapid acceleration of the tech boom. The computing firm – which is listed on the New York Stock Exchange – said in its annual report the [...]
From mild to wild: What impact will AI have on banking jobs? June 10, 2026 Top banking bosses have issued their AI verdict after Standard Chartered stunned the sector with plans for sweeping job cuts last month. In this week’s column Samuel Norman looks at whether a reckoning could be on the horizon. The big-name banker must have known how the conversation would go when he arrived for lunch with [...]
‘It will reduce jobs’ – Jamie Dimon sounds off on AI’s impact on banks May 21, 2026 One of the world’s leading financial figures has warned AI will inevitably lead to a cut in jobs amid growing jitters around the impact the new tech will have on the banking sector. Jamie Dimon – the top boss of America’s largest bank, JP Morgan – said: “I think [AI] will reduce our jobs down [...]
Businesses cut jobs for 19 consecutive months yet ‘growth holds up’ May 6, 2026 Businesses have now cut jobs for 19 consecutive months as researchers warned that higher payroll costs and productivity gains have forced employers in the services sector to rethink hiring plans. Results from S&P Global’s purchasing managers’ index (PMI) suggested that lower staffing numbers across the UK’s dominant services sector have been recorded in each month [...]