Royal Mail to cut thousands of jobs in sweeping overhaul Business Royal Mail will cut as many as 2,500 jobs as part of a root-and-branch overhaul that the ailing postal service hopes will reduce its overheads at a time of dwindling usage and scrutiny over its delivery performance. The group, which was bought off the London Stock Exchange by Czech billionaire Daniel Kretinsky in 2024, unveiled [...]
HSBC set to axe UK wealth jobs as AI takes hold Banking HSBC is putting a raft of roles in its UK wealth division on the chopping block following a push to slash costs with artificial intelligence. Europe’s biggest lender is consulting on changes to its wealth management operations that would lead to a shake-up for hundreds of relationship managers and financial advisers across the UK. The [...]
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 [...]
UK economy’s rebound fails to stem two years of mass job losses August 21, 2026 A rebound in the UK economy over August has failed to turn around the country’s flagging labour market after nearly two years of job losses, new estimates have shown. Data tracked by S&P Global suggested the UK’s private sector grew at the fastest pace in four months in August despite concerns around business costs and [...]
‘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 [...]
Sweeping job cuts at GSK to fund £400m Cambridge campus July 28, 2026 GSK is poised to slash its back office headcount to help fund a £400m mega-campus in Cambridge, in a move it hopes will bolster its drugs pipeline anFd stave off a looming patent cliff-edge. In his first major update as chief executive, Luke Miels unveiled plans to find £1.9bn of savings over the next three [...]
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 [...]
The real AI risk isn’t job losses, it’s who can see what June 30, 2026 Beyond the fearmongering, it’s a more mundane AI threat that will be making waves in boardrooms, writes Paul Armstrong.
Volkswagen’s China crunch deepens as Europe’s biggest carmaker weighs 100,000 job cuts June 27, 2026 Volkswagen is weighing up to 100,000 job cuts as Europe’s biggest carmaker accelerates a sweeping overhaul after admitting the manufacturing model that underpinned decades of German industrial success can no longer compete in a market reshaped by Chinese rivals. The German automotive giant is reportedly considering almost doubling previously announced workforce reductions while shutting four [...]
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 [...]