Gusto: Restaurants to close and almost 200 jobs lost as rescue agreed July 29, 2025 Almost 200 jobs have been lost at Italian restaurant chain Gusto after a deal to buy it out of administration was agreed. Cherry Equity Partners is to acquire the majority of Gusto in a move which will lead to around 190 redundancies and the closure of six restaurants. The deal, which is being undertaken through [...]
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 [...]
UK’s financial services stronghold slips July 10, 2025 The UK’s position as a financial services leader has cracked as under-investment and staff reductions weigh on the sector. Nearly half of senior financial professionals believe the UK’s dominance is waning, research from the CRIF found. Over 40 per cent said they would no longer consider the country a global leader in the industry. Sara [...]
Financial services brace for more job cuts as clouds gather July 7, 2025 Financial services firms are expecting a rapid increase in jobs losses over the coming months as investment plans and optimism levels sink to fresh lows. The sector’s activity fell at the fastest rate since December 2023 in the three months to June, according to the Confederation of British Industry (CBI). This marked the first time [...]
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 [...]
Has Klarna’s buy now, pay later bubble burst? June 6, 2025 Buy now, pay later services have exploded in the last decade and industry titan Klarna has spearheaded growth. The global BNPL market is expected to top $560.1bn (£412.8bn) in 2025 with 13.7 per cent annual growth. Swedish fintech Klarna has historically dominated the space, notching a net operating income of $1.087bn in 2020. The firm [...]
McKinsey slashes 10 per cent of jobs in major overhaul May 28, 2025 Consulting giant McKinsey has unleashed one of the largest job culls in the company’s history after ten per cent of staff faced the chop. The New York-headquartered firm has reversed major expansion plans, which peaked during the pandemic, as it aims to drive profitability. The consulting firm has reduced its workforce to 40,000 over the [...]
With AI, ‘everything is under review’ at London-based tech firm IFS May 13, 2025 Enterprise software firm IFS, valued at €15bn (£12.64bn), is doubling down on industrial AI as it pushes toward an ambitious $100bn target by 2029. With a sharp focus on asset-heavy sectors like energy and telecoms, the firm is re-engineering its entire model around automation. At a recent IFS connect UKI event, chief executive Mark Moffat [...]
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 [...]
April’s cost hikes are ‘a step too far’ for the UK’s independent businesses April 1, 2025 Independent retailers have warned of job losses and cuts to staff hours due to rising business costs set to come in this April. Shops pointed to the ‘double whammy’ of increases to national insurance contributions (NICs) and the minimum wage. “As responsible employers we want to ensure we are paying a fair wage to our [...]