Canadian bank CIBC subjected senior exec to racial and sexual discrimination, lawsuit says May 30, 2022 An ex-senior banker at one of Canada’s biggest banks has filed an £800,000 lawsuit against her former employer over claims she was subject to racial and sexual discrimination while working at the firm. Zhuofang Wei, a former executive director at the London office of the Canadian Imperial Bank of Commerce (CIBC), is suing the bank [...]
Post-Brexit and pandemic inquiry launched into labour market recovery as shortages ‘act as brake on prosperity’ May 27, 2022 A post-pandemic and Brexit recovery inquiry has been launched into the UK labour market as skills and worker shortages appear to have strained the recovery post-pandemic and Brexit. The Business, Energy and Industrial Strategy (BEIS) committee initiated the probe on Friday in wake of recently published figures by the Office for National Statistics, showing more [...]
Exclusive: Unprecedented war for talent reflects a seismic shift in power on Britain’s hyper-aggressive job market May 26, 2022 Britain’s jobless rate has fallen to its lowest level for over 47 years. In fact, for the first time ever, there are fewer unemployed people than job vacancies. This is resulting in an unprecedented ‘war for talent’ and an unprecedented wave of pay hikes, but what does this actually look like for London’s business community? [...]
Weekend exclusive: Kill off the CV to safeguard London’s workforce, argues recruitment guru May 22, 2022 Despite the Levelling Up agenda from the government, London remains the economic hub of the country. Home to the UK’s finance, legal, technology, and creative industries to name a few, it is the barometer for the activity, attitudes, and aspirations for UK plc. While City A.M. reported extensively on the risk of finance jobs leaving the City [...]
Homeworking on the rise as growing number of employers introduce hybrid models for staff May 22, 2022 The pandemic has sparked a permanent increase in homeworking, with support from employers and staff for changes to working practices, according to a new report. The TUC said many workplaces and workers are still trialling new arrangements for homeworking and hybrid working and negotiating long-term policies. But there is evidence in support of change, with [...]
Fewer unemployed people than job vacancies: Jobless rate lowest since 1974 with 121,000 more Brits on payrolls May 17, 2022 The number of UK workers on payrolls rose by 121,000 between March and April to 29.5m, the Office for National Statistics said this morning. It means Britain’s jobless rate has fallen to its lowest level for over 47 years but workers have seen their pay fall further behind rocketing inflation, according to official figures. The [...]
Planned redundancies up 60 per cent as firms feel pressure of interest rate rise and borrowing costs May 16, 2022 Raised interest rates and borrowing costs have led to a 60 per cent increase in planned redundancies. The spike in people losing their roles went up from almost 38,000 to more than 60,000 in the last quarter according to GQLitter, a specialist law firm dealing with employment. This comes after interest rates were increased 1 [...]
Minister criticised for saying people should ‘work more hours or move to a better paid job’ to cope with cost of living crisis May 16, 2022 The government’s safeguarding minister has come in for sharp criticism after saying people struggling with the cost of living crisis should “work more hours” or get a “better paid job.” Rachel Maclean said there were way households could “protect themselves” from rising inflation and pressures on their budgets, while appearing on Sky News this morning. [...]
Govt accused of ‘turning its back’ on workers after promised Employment Bill is nowhere in Queen’s Speech May 10, 2022 The Government has come under fire for “turning its back” on workers after a long-awaited and promised Employment Bill was not included in the Queen’s Speech. Unions and Labour criticised Prime Minister Boris Johnson, accusing him of “fobbing off” working people. Unions have been expecting legislation for years, saying a Bill is needed to tackle [...]
Recruiters in overdrive as number of job adverts skyrockets: 1.8m vacancies now up for grabs May 5, 2022 The number of job adverts continues to increase, showing how firms are “eager” to hire new staff, according to data shared with City A.M. this morning. There were 1.8m vacancies advertised in the week to May 1, around 15 per cent more than the same period last month. The Recruitment and Employment Confederation (REC) said [...]