News Tag: employees
February 3, 2010
According to the BBC, workers at the AA may strike for the first time since the organisation was established over a century ago.
The vehicle breakdown service, which advertises itself as the fourth emergency service, is in a dispute over pensions and thousands of employees are to be balloted.
The GMB union said its members had reacted ''adversely'' to planned changes to their pension ...
AA workers in strike ballot
by Kay Murchie
January 25, 2010
Around 100 senior employees at Goldman Sachs in London are capping their 2009 pay and bonuses at £1 million each.
The move comes as part of the Chancellor’s super tax, which was introduced to claw back some of the bailout funds used to rescue the banking industry.
According to the BBC, the tax represents a considerable sacrifice of several hundred million pounds.
Last ...
Goldman Sachs London employees capping pay
by Kay Murchie
November 5, 2009
Swiss banking giant UBS has been fined £8 million by the Financial Services Authority (FSA) - the third largest penalty ever handed out by the UK regulator.
However, the fine would have been £10 million but the Swiss bank agreed to settle with the FSA at an early stage.
The bank, which is Switzerland’s fourth largest, was fined for failing to stop four ...
Swiss bank UBS fined £8m
by Kay Murchie
October 27, 2009
Free evening newspaper, London Lite, has seen its future thrown into doubt today after its owner Associated Newspapers said it would begin a consultation with its employees.
London Lite, which is currently losing almost £10 million a year, was launched on 30 August 2006 but its owner has recently expressed concern about the "commercial viability" of the paper.
The paper employs 36 ...
Uncertain future at London Lite Newspapers
by Kay Murchie
September 30, 2009
UK employees are blasé about their pension fund because they struggle to see how the money saved is relevant to their current life.
Research by Baring Asset Management found nearly half (48%) of Britain's workforce have never checked their pension plan since opening the policy.
The study corroborates recent findings by Lincoln Financial Group that over two million Brits are unsure where their pension ...
Blasé Brits forget pension funds
by David Masters
August 20, 2009
Final salary pension schemes may not have breathed their last breath, but they are certainly on the throes of extinction, an industry expert has claimed.
Dr Ros Altmann, a former academic and independent expert on pensions policy and retirement, said when final salary pensions were first conceived, it was assumed they would be funded through equity returns.
These assumptions were fuelled by "exceptional" ...
Final salary pension schemes face extinction
by David Masters
July 16, 2009
American Express, the credit card giant, has announced that with effect from 1 July, it has suspended pension contributions for its UK employees.
The move, which affects 6,000 members, will see payments stopped for a maximum of 18 months.
Many firms have adopted similar measures as the global recession has forced companies to slash costs. However, American Express is the largest company ...
American Express suspends UK pension payments
by Kay Murchie
June 22, 2009
MPs are not the only ones fiddling their expenses according to new research by uSwitch.com.
British employees exaggerate their expense claims by half a billion pounds a year, a poll by the price comparison site discovered.
Sixteen percent of employees confessed to stretching their expense claims for financial gain.
Nearly three million UK workers claim for more miles than they've actually driven on petrol ...
Expenses fiddling rife across UK workforce
by David Masters
April 8, 2009
Aon’s UK division is proposing to cut the contribution it makes to employees’ pensions as part of a cost reduction strategy.
The firm has already closed its final salary scheme and according to a BBC report is now proposing to reduce the level of its employer contributions by up to a half.
Aon has been contributing 12% of employees’ pay into the company’s ...
Aon cuts employer’s pension contribution
by Gill Montia
April 6, 2009
The Department for Business, Enterprise and Regulatory Reform has announced that there will be an extension of current legislation, whereby employees with children under six or disabled children had a statutory right to request flexible working, and this has now been extended to anyone with children under 16.
The Trades Union Congress has welcomed the change as it will mean that ...
UK parents to get increased working flexibility
by Peter Charalambous
December 1, 2008
The economic downturn has brought with it rising unemployment across the world and a survey called ‘The Global Recession and its Effect on Work Ethics‘, conducted by IT security data company, Cyber-Ark, has discovered that today’s employees will do anything to retain their jobs.
Workers are offering to double their hours and take a pay cut in order to secure employment.
More than one ...
Survey reveals job security fears
by Kay Murchie
