Jobs and employment

British Steel, a Chinese-owned company, has been shocked by the resignation of its auditor. The new auditor was unable verify stock worth tens and millions of pounds. Moore Kingston Smith, who audited the finances of British Steel for…

According to a survey conducted by the World Economic Forum in Davos (Switzerland), a quarter of chief executives worldwide expect that the deployment of generative AI will lead to headcount cuts of at least 5% this year. According to a…

Amazon has cut hundreds of jobs from Prime Video, James Bond Studio MGM and Prime Video as it battles tough competition on the streaming market. In a memo sent to employees on Wednesday, the company announced that it would be eliminating…

Donald Trump's Scottish Golf Course Turnberry made its first profit ever after nearly a decade under turbulent ownership by the ex-US President. According to newly filed accounts, Trump Turnberry in Ayrshire, a resort of 800 acres with…

Weight-loss injections could be the answer to record unemployment British workers are more sick than ever before. In 2022, nearly three out of every 100 hours worked were missed due to illness. This is the highest percentage since 2004.…

Octopus Energy raised $800m from its shareholders, valuing the company at almost $8bn. This comes just weeks after Octopus Energy became Britain's largest power supplier. Existing investors such as Tokyo Gas of Japan and Al Gore’s…

Spotify is cutting around 20% of its staff because the economy has slowed down, and they need to save money in order to make consistent profits. CEO Daniel Ek announced on Monday that Spotify will be reducing its global workforce by…

Economists warn that office landlords in Europe are going to face a cash crunch of £34bn as more staff work from home. According to S&P Global, the commercial real estate industry in Europe will face a funding shortage between…

Yotam Ottolenghi has had to reduce the opening hours of his restaurants due to a lack of chefs. Emilio Foa is the chief executive officer of Ottolenghi’s restaurant group, which includes Nopi, Rovi and other restaurants in London’s West…

Lloyds Bank's chief executive has asked Labour and the Government not to impose a windfall tax in his industry, citing "nervousness". Charlie Nunn is the chief executive officer of Britain's biggest lender. He said that politicians need…

In a landmark ruling for the gig-economy, the UK Supreme Court ruled that Deliveroo riders could not be recognized as employees and cannot be represented by unions to engage in collective bargaining. The Independent Workers' Union of…

EY is considering abandoning its London headquarters, the latest sign that office life is deteriorating as more people work from home. After launching an office property review at its More London location near London Bridge, the Big…

According to economists, Brexit has increased wage growth for UK as predicted by the Leave campaign. Senior City analysts stated that the near-record wage growth was partially driven by a crackdown against uncontrolled immigration…

Pfizer plans to eliminate 500 jobs from its Kent laboratories as it tries to reduce costs by $3.5bn (£2.8bn), due to the falling demand for Covid drugs. Pfizer announced that it will cease its Pharmaceutical Sciences Small Molecules…

Beauty giant forced into rethinking sales strategy as more women work One of the most memorable slogans in advertising of the 21st Century was about this. Soon, the days of Avon's "ding dong" could be over. For the first…

It is often a matter of how many and when layoffs will occur in the biopharmaceutical industry after a merger. Amgen's buyout of Horizon for $27.8 Billion, announced in December last year and completed this month, was swift. A…

Nokia will slash up to 14,000 jobs after waning demand for 5G mobile networks sparked a drop-off in sales. The Finnish telecoms giant announced the cuts, which amount to as much as one in six staff, as part of a plan to drastically…

Amazon is testing humanoid robotics in its warehouses. The company insists that the robots will not replace humans, but rather eliminate repetitive tasks. In one of its warehouses, near Seattle, the US tech giant deployed a bipedal…