News Tag: redundancies
April 25, 2009
For the first time in over 23 years, Microsoft has experienced its first ever year-on-year decline and the fall in sales is expected to continue for at least another three months.
However, investors had feared that the company’s results could have been worse.
Net profit at Microsoft fell by 32 percent to $2.98bn as revenue fell by 6 percent compared to the ...
Microsoft experiences first quarterly fall in profits
by Peter Charalambous
April 2, 2009
Norwich Union Life, the UK arm of the insurance business of Aviva PLC, said today that it will cut around 1,100 jobs in the UK, in order to make its operations more efficient.
The announcement follows on from Aviva Chief Executive, Andrew Moss, saying that there will be a round of job cuts across insurance services and this view has ...
Aviva restructuring will see Norwich Union jobs cut
by Peter Charalambous
March 26, 2009
HSBC, which employs around 58,000 people in the UK, has announced that following a review of the business, 1,200 of its UK staff face potential redundancy which will be mainly in the processing, operations, finance, HR and IT areas.
HSBC has not received taxpayer support but has just approved a £12.5bn rights issue to strengthen its finances. ...
HSBC to make 1,200 redundancies as part of cost cutting measures
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
October 31, 2008
A survey carried out by the Chartered Institute of Personnel and Development (CIPD) of 721 organisations has resulted in some alarming news.
The CIPD said its survey found that a sharp rise in redundancies is expected by employers as a result of the current financial crisis.
A quarter of the organisations questioned said they had prepared fresh plans for ...
Sharp rise in redundancies expected due to financial crisis
by Kay Murchie
May 22, 2008
The 2008 National Management Salary Survey published by Chartered Management Institute (CMI) has revealed that redundancies in the UK are at a 7-year high.
According to the CMI, redundancies have risen to 3% this year, double the 1.4% reported last year.
This represents the largest increase since 2001 when it reached 3.7% after the economic fallout from the dot-com boom.
The study did reveal, however, ...
Redundancies on the increase
by Kay Murchie
