Deloitte hikes pay for top boss while headcount shrinks Big Four Big Four giant Deloitte hiked pay for one of its chief executives last year by almost half while overall headcount at the firm fell, in part tied to targeted job cuts. According to the firm’s latest accounts, Deloitte’s chief executive of EMEA, Richard Houston, saw his pay increase to £7.1m, almost fifty per cent more [...]
‘Slow-moving tsunami’ – IMF warns AI could hit 60 per cent of jobs in advanced economies AI AI’s impact on employment “is a slow-moving tsunami, but a tsunami nonetheless”, the head of the International Monetary Fund (IMF) has warned, as the technology threatens to reshape six in ten jobs across advanced economies. Kristalina Georgieva, managing director of the IMF, said AI could affect 40 per cent of jobs worldwide, rising to 60 [...]
Close Brothers raises cost-cutting target as job cuts begin Banking Close Brothers has dialled up its cost-cutting plans and said it was “well into next stage of restructuring” after revealing it would slash its headcount by around 20 per cent earlier this year. The FTSE 250 bank said on Tuesday it had delivered £36m of savings in its latest financial year, coming ahead of the [...]
Tech the only bright spot as job security fears climb to highest level since 2023 September 21, 2026 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 [...]
Exclusive: Nothing slashes jobs in cost-cutting push July 24, 2026 British smartphone maker Nothing has begun slashing jobs across its global business as it looks to cut costs following a rapid hiring spree, City AM can reveal. The Kings Cross headquartered hardware firm, founded by Carl Pei, who previously set up Chinese smartphone company OnePlus, has begun consultations with staff across regions and has already [...]
UK fintech Starling to axe 130 roles in AI-powered simplification drive July 3, 2026 Starling is gearing up to cut some 130 roles in a bid to streamline its operations following a fall in profit over the last year. The London-based fintech told staff this week it would restructure its banking and tech operations as it leveraged AI across operations ahead of an influx of new projects. It said [...]
HSBC bags £135m from former Silicon Valley Bank as job cuts push up restructuring bill June 24, 2026 The rescued UK wing of Silicon Valley Bank has paid another bumper dividend to HSBC as it racked up costs amid a sweeping restructure. HSBC Innovation Banking – the branding bestowed on the collapsed Silicon Valley Bank UK (SVBUK) – was taken over by Europe’s largest lender in March 2023 as ministers, regulators and banking [...]
BBC News faces hundreds of job cuts in major downsizing drive June 15, 2026 The BBC is expected to announce hundreds of job cuts across its core news division next week, as the broadcaster begins a sweeping cost-cutting programme ahead of crunch talks with ministers over its future funding. The corporation’s news operation is set to be the first part of the BBC to reveal detailed redundancy plans, according [...]
London AI jobs boom as Anthropic salaries hit £630k May 26, 2026 London’s AI hiring race is accelerating at dizzying rates, with Anthropic offering some engineers in the capital as much as £630,000 a year as Big Tech firms battle for AI talent. The US AI giant, backed by Amazon and best known for its chatbot Claude, is currently hiring for over 40 London roles as it [...]
AI will ‘destroy and create jobs,’ says HSBC boss May 20, 2026 The boss of Europe’s largest bank has warned that the growth of AI will both “destroy” and “create” new jobs as the banking industry continues to be reshaped in the face of new technology. Georges Elhedery, chief executive of HSBC, warned that the bank’s staff must avoid “fighting us” as it unveiled its latest AI [...]