News Tag: closure
March 8, 2010
US food giant, Kraft, is set to be investigated by the City takeover panel about whether it made misleading comments at the time of its takeover of British confectioner, Cadbury.
Kraft, which made several hostile bids for Cadbury before shareholders finally agreed to a deal, initially said a takeover of Cadbury would secure UK jobs, while keeping open its Somerdale ...
Kraft facing inquiry over Cadbury factory closure
by Kay Murchie
March 2, 2010
The UK’s second-largest drug maker, AstraZeneca, has announced plans close a research centre near Loughborough, Leicestershire.
The drug giant is one of Leicestershire's major employers and the move will result in the loss of more than 1,000 jobs.
Furthermore, a smaller facility in Cambridge is to close and are part of plans to axe 8,000 jobs across its global operations over the next four ...
AstraZeneca to close Loughborough plant
by Kay Murchie
February 25, 2010
Fashion retailer Ethel Austin has been forced to close its doors after failing to attract a buyer.
Earlier this month, the Liverpool-based discount clothing retailer, together with its sister company Au Naturale, entered administration for the second time in two years.
The group was bought out of administration in 2008 by Elaine McPherson - former chief executive and ...
Ethel Austin fails to attract buyer, 1,000 lose their jobs
by Kay Murchie
February 11, 2010
US food giant, Kraft, has confirmed it will close Cadbury’s Somerdale plant near Bristol with the loss of 400 jobs.
Cadbury has a UK workforce of 4,500, including 2,500 at its historic Bournville factory in Birmingham and 400 at its headquarters in Uxbridge.
The move comes after the 186-year-old iconic British confectioner, renowned for Dairy Milk, agreed to a £11.5 ...
Kraft confirms closure of Cadbury Somerdale plant
by Kay Murchie
February 2, 2010
Oil giant BP has today posted a 45% fall to £8.75 billion in 2009-annual profit compared with the 2008 year.
Meanwhile profit for the fourth quarter of 2009 rose 33% to £2.16 billion ($3.45 billion) compared with the $2.59 billion posted a year earlier, as a result of the recovery in oil prices. However, the quarter four figures were lower than ...
BP posts 45% fall in annual profit
by Kay Murchie
January 21, 2010
US coffee chain Starbucks has exceeded market expectations by reporting a threefold rise in quarterly profits.
The chain posted a net profit of $241.5 million (£148 million) in the final quarter of 2009, compared with $64.3 million in the same period a year ago.
Meanwhile, same store US sales grew 4%, their first rise in over two years.
In the UK, like-for-like sales increased by ...
Starbucks results exceed expectations
by Kay Murchie
January 15, 2010
Motor parts manufacturer Bosch has announced plans to close its site in Miskin, near Cardiff, in summer 2011 which will result in the loss of approximately 900 jobs.
The decision follows three months of consultation and the firm has now decided to recommend complete closure of the plant and is said to be transferring the work to ...
900 jobs at risk as Bosch plans to close Welsh factory
by Kay Murchie
December 4, 2009
Britain’s largest Steelmaker Corus has announced today it is to close its Teesside Cast Products factory by the end of January, leaving 1,700 people jobless.
The steel giant announced 3,500 job losses (with 2,000 in the UK) back in June and has been hit by a slump in demand. It produces 20 million tonnes of crude steel every year ...
Corus to close plant with loss of 1,700 jobs
by Kay Murchie
Land Registry reports 0.9% rise in house prices in September
by Kay Murchie
September 29, 2009
Dairy Crest has become the latest company to announce it will close its final salary pension scheme to existing members, having closed the scheme to new employees in 2006.
The group, which is one of the UK's largest milk firms and makes brands such as Country Life and Clover butter, Davidstow cheese and Frijj flavoured milk, said the ...
Dairy Crest latest firm to close final salary pension scheme
by Kay Murchie
September 24, 2009
Jaguar Land Rover has confirmed it is to shut one of its sites in the West Midlands due to a restructure of its operations.
The group will decide next year whether it will close its Castle Bromwich plant in Birmingham or its Range Rover factory in Solihull.
While the closure of the plant is not expected until after ...
Jaguar Land Rover to close plant, Lada cuts 27,600 jobs
by Kay Murchie
September 15, 2009
Defence giant BAE Systems is to reduce its workforce and close one of its sites in Woodford, Cheshire. However the job losses will also affect a number of its other sites.
The Confederation of Shipbuilding and Engineering Unions (CSEU) described the news as "bitterly disappointing".
The union's general secretary, Hugh Scullion, said: "The CSEU will work constructively with ...
BAE Systems to close factory and axe 1,116 jobs
by Kay Murchie
September 2, 2009
Cattles, which has already axed 1,000 jobs this year, is proposing to cut a further 510 jobs at its Welcome Financial Services subsidiary.
The struggling sub-prime lender, which is battling to stay afloat, is seeking ways to slash costs and as leases on its premises expire, several Welcome Financial Services branches could close.
In a statement, the ...
Cattles review of Welcome Financial brand puts 500 jobs at risk
by Kay Murchie
August 31, 2009
Lloyds Banking Group is considering more job losses as the bank plans to close more than 300 “agency” counters run by its Halifax subsidiary in the offices of estate agents, solicitors or financial advisers.
Agency counters are not Halifax branches and their staff are employed by the agent as part of their wider business and the closures are part of the process ...
Lloyds considering Halifax agency counter closures
by Kay Murchie
August 20, 2009
Free evening newspaper, The London Paper, is facing closure after its owner, News International, commenced a 30-day consultation with its 60 staff following the paper’s pre-tax loss of £12.9 million in the 12 months to the end of June 2008.
The paper, which was established in September 2006, had a circulation of more than half a million last month ...
News International considers closure of The London Paper
by Kay Murchie
August 19, 2009
It has been announced that banking giant Lloyds Banking Group is reviewing its decision to close down its Cheltenham & Gloucester (C&G) subsidiary.
In June, the mega-bank said it was closing all of its 160 UK C&G branches with the loss of hundreds of jobs but the decision may now be reversed.
The u-turn has been welcomed by the Unite ...
Lloyds to ‘review’ shutdown of Cheltenham & Gloucester
by Kay Murchie
August 14, 2009
Allied Carpets, the flooring specialist, has been forced to close 142 of its stores and axe 850 jobs.
The struggling retailer was placed into administration last month as the property market crash and economic downturn meant fewer people are buying carpets and flooring. It is the second largest carpet retailer in the UK, behind Carpetright.
BDO Stoy Hayward, which ...
Allied Carpets closes 142 stores and axes 850 jobs
by Kay Murchie
July 17, 2009
Barclays’ staff are set to vote on whether to strike over the closure of its final-salary pension scheme.
The Unite union said the ballot will take place in August with potential industrial action taking place across the bank in September, which will "significantly impact" the bank's operations.
The decision to close its final-salary pension scheme sparked outrage among staff and, ...
Barclays’ staff in strike ballot over pension scheme
by Kay Murchie
July 8, 2009
IBM, the computer giant, is considering closing its final-salary pension scheme to current members, affecting over 25% of IBM’s 20,000 UK workforce.
An e-mail to staff from IBM's UK and Ireland general manager Brendon Riley, said the pension fund was being re-evaluated because of rapidly-rising costs and liabilities.
The e-mail said: "For IBM UK also, the rapidly-rising costs and liabilities associated ...
IBM considering closing final salary pension scheme
by Kay Murchie
