Brits’ take home pay still falling rapidly despite record wage rises Wages Brits are suffering one of the sharpest hits to their take home pay despite businesses handing workers bumper pay prices, official figures out today reveal. Real pay tumbled 2.6 per cent over the three months to November, among the steepest drops seen outside the Covid-19 crisis, according to the Office for National Statistics (ONS). The [...]
Recession to end City’s legal sector pay war, recruiters warn Law Firms A drop in legal sector revenues is likely see the end of the pay war that has played out between the City’s top law firms over the past two years, legal sector recruiters have said. Falling revenues off the back of a slowdown in new business will likely see lawyers’ salaries plateau or even go [...]
Amazon to close three UK warehouses impacting thousands of jobs Jobs at risk Amazon has revealed plans to shut three UK warehouses in a move which will impact 1,200 jobs. The company has launched consultations over the closure of sites in Hemel Hempstead, Doncaster and Gourock, in the west of Scotland. All workers at the Amazon sites will be offered roles at other Amazon locations. The online technology giant has also [...]
Recession fears force UK businesses to park hiring plans January 10, 2023 Recession fears are forcing businesses to mothball hiring plans to keep costs at a minimum, a new survey out today reveals. KPMG and the Recruitment and Employment Confederation’s (REC) permanent hiring index stumbled to 44.5 in December from 46.4 in the previous month. The reading has now been below the 50 point mark that separates [...]
Exclusive: UK firms stop hiring and mull layoffs as recession takes hold January 9, 2023 Layoffs are on course to climb, driven by businesses cutting costs amid what risks being the longest UK recession in memory, exclusive research shared with City A.M. indicates. Firms are planning to pause hiring or even sack workers to protect their finances from a slump in spending sparked by the cost of living crisis. Nearly [...]
Labour: Work from home but reverse pandemic retirement, over-50s urged January 7, 2023 Labour is hoping to tempt over-50s out of early retirement with the right to work from home. The shadow work and pensions secretary, Jonathan Ashworth, has outlined plans to entice over-50s to take up employment again. Speaking with The Daily Telegraph, Keir Starmer’s spokesperson on the issue, Ashworth, said Labour will launch a series of [...]
EXCL – Sunak should lower national insurance in 2023, argues jobs chief December 28, 2022 With inflation having reached a 40-year high this year and the economy predicted to shrink in 2023, City A.M. zooms in on the volatile, hyperactive UK jobs market by checking in with Paul Farrer, the CEO and founder of London-based recruitment giant Aspire. Sitting down with this paper today, Farrer calls on the new Prime [...]
London flexible office occupancy rates recover to pre-pandemic levels December 22, 2022 Flexible office spaces in central London have seen their occupancy rates recover to pre-pandemic levels, new data shows. A majority (86 per cent) of the world’s top 30 flexible workspace providers have seen now seen occupancy rates in their central London offices surpass levels of 60 per cent, a survey by Knight Frank shows. A [...]
Workforce shrinkage risks roiling growth and embedding inflation December 20, 2022 A workforce squeezed by older Brits retiring earlier threatens to intensify inflation in the UK and whack economic growth, a new report out today claims. The some 565,000 people who have left the jobs market since the start of the Covid-19 crisis will drag on a UK economy that is already tumbling into an at [...]
Decade high 400k working days lost to strike action in October December 13, 2022 Over 400,000 working days were lost to strikes in October, the highest since November 2011, official figures from the Office for National Statistics out today reveal. Britain has been hit with a wave of industrial action by railway, postal and health workers sparked by pay and working conditions disputes. Working days lost to staff walk [...]