Finance bosses back AI despite job loss concerns September 2, 2025 The financial services industry is set to drive more investment into AI as the industry’s senior leaders turn bullish on the tech. More than half of UK institutions expect to up their AI investment in the next 12 months while one in five said they would maintain current levels, data shared with City AM revealed. [...]
Losses double at global recruiter despite sales passing £2bn August 5, 2025 Losses at a UK-headquartered global recruitment giant more doubled despite its revenue passing the $3bn (£2.2bn) mark during its latest financial year. Altrincham-headquartered NES Fircroft has posted a pre-tax loss of $67.7m for the 12 months to 31 October, 2024, according to new accounts filed with Companies House. The loss comes after the business also [...]
Morrisons cuts over 3,600 jobs as profit passes £2bn August 4, 2025 Morrisons cut more than 3,600 jobs as it returned to profit for the first time since a private equity-backed takeover in 2021. The Bradford-headquartered supermarket giant has posted a pre-tax profit of £2.1bn for the 12 months to 27 October, 2024, new accounts filed with Companies House have revealed. The profit comes after Morrisons made [...]
McDonald’s sheds 2,000 UK jobs as profit almost doubles August 4, 2025 Profit at the UK arm of McDonald’s almost doubled in 2024 as it shed more than 2,000 jobs, it has been revealed. The US fast food giant has posted a pre-tax profit of £120m for its latest financial year, up from the £66.3m it reported in 2023. That figure though was down from the £170.8m [...]
Jaguar Land Rover to axe 500 management jobs July 17, 2025 Jaguar Land Rover is to axe up to 500 management jobs in the UK through a voluntary redundancy programme. The automotive giant said that around 1.5 per cent of its UK workforce would be impacted by the job cuts. A spokesperson for the Tata-owned firm said: “As part of normal business practice, we regularly offer [...]
British banks shed workers at fastest pace since 2018 July 2, 2025 British bankers were on the chopping block in 2024 as UK lenders marked the steepest drop in headcount since 2018 amid an industry-wide digital push. Total employee numbers at British lenders slumped 5.25 per cent to 580,371, falling to the lowest number in a decade. Standard Chartered and HSBC made the biggest culls at 4.5 [...]
What happened to River Island? June 26, 2025 River Island is suffering from a common affliction. Declining sales and an inability to keep up with competition have led to a restructuring plan, with imminent store closures if the strategy goes ahead. High-street peers like Miss Selfridge, Dorothy Perkins and Debenhams have already disappeared and become online-only – River Island is just the “latest [...]
Gymshark puts 300 jobs at risk despite record sales April 30, 2025 Gymshark has put almost 300 jobs at risk despite reporting record sales for its latest financial year this week. The Solihull-headquartered company, which was co-founded by self-made billionaire Ben Francis, has entered into a consultation with 296 employees, almost a third of the total workforce. The news, first reported by Drapers, came on the same [...]
Sky to overhaul call centres and cut around 2,000 jobs March 27, 2025 Sky has announced plans to shake up its call centres in a move which will see around 2,000 jobs put at risk of being lost. The media company, which is owned by US media giant Comcast, is looking to close three of its ten call centre sites. Its locations in Stockport, Sheffield and central Leeds [...]
HSBC investment bankers axed on bonus day received no bonus March 27, 2025 HSBC issued no bonuses to axed investment bankers, despite letting them go on the day they were set to learn their pay award figures. The FTSE giant told staff in its investment arm last month that they were facing the chop after the firm announced in January it would wind down mergers and acquisitions advisory [...]