Telecoms company Vodafone has announced plans to cut a further 375 jobs as part of its £1 billion cost-cutting programme, undertaken last year by the company as a result of a sharp decline in revenues from its core UK market. The company, which is the world’s largest mobile phone operator, said the job losses would [...]
Telecoms company Vodafone has announced it is to close its final salary pension scheme to 4,000 current employees. The mobile phone giant is the latest in a long line of companies to adopt these measures as a result of rising costs amid the recession. The company recently announced it was looking to increase its £1 [...]
In an attempt to cut costs, US software company Adobe Systems is to axe 680 jobs worldwide – the equivalent of 9% of its workforce. The software company, which is known for Photoshop, Flash and Acrobat, said the restructure is necessary in order to reduce costs. As a direct result of the cuts, Adobe said [...]
As part of its ongoing global cost-cutting programme, Swedish telecoms equipment maker Ericsson is to eliminate 700 jobs from its research and development operation in Coventry. The cuts will be made by the middle of next year and the company said after that time, the facility would no longer be viable. Ericsson has been in [...]
Telecoms company Vodafone is seeking to increase its £1 billion cost-cutting programme by a further £1 billion by 2012 as a result of a sharp decline in revenues from its core UK market. The company, which is the world’s largest mobile phone operator, is struggling amid the global economic downturn and has already announced hundreds [...]
Vodafone, the mobile phone operator, is considering buying T-Mobile UK, which would create the UK’s largest mobile operator. Both companies have declined to comment but reports say Vodafone is interested in acquiring T-Mobile after it was placed on the market by its owner, Deutsche Telekom. However, The Financial Times has reported that the deal may [...]
A deal was announced yesterday between O2 and Vodafone whereby they plan to share a pan-European network that includes Spain, Ireland, Germany, and the United Kingdom over the next 10 years. As part of a cost cutting exercise it means they will be jointly building new sites for base stations within the UK as well [...]
Cable, internet and phone company, Virgin Media, has announced today it is cutting 2,200 jobs from its 14,600 workforce. The job losses, which represent 15% of its workforce, are part of major restructure and will save up to £120 million ($186.4 million) over the next 4 years. Sources close to the company insist that the [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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