Tag: employees

Survey reveals take-home pay down £1,000

Survey reveals take-home pay down £1,000

According to a survey commissioned by BBC One’s Panorama programme, employees are £1,088 a year worse off than they were two years ago as take-home pay fails to keep in line with inflation. At the start of this year, the typical British worker earned £20,149 - a drop of 5% from what they were earning [...]

March 28, 2011 | 0 Comments More
Chancellor Osborne has a change of heart re bankers‘ bonuses

Chancellor Osborne has a change of heart re bankers‘ bonuses

Chancellor George Osborne has had a rethink with regard to bankers’ bonuses, suggesting he may abandon the requirement for British banks to disclose the number of employees earning more than £1 million. The requirement for banks to disclose bonuses and salary payments over £1 million was brought in by former Chancellor Alistair Darling last year. [...]

November 22, 2010 | 0 Comments More
AA workers in strike ballot

AA workers in strike ballot

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 [...]

February 3, 2010 | 0 Comments More
Goldman Sachs London employees capping pay

Goldman Sachs London employees capping pay

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 [...]

January 25, 2010 | 0 Comments More
Swiss bank UBS fined £8m

Swiss bank UBS fined £8m

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 [...]

November 5, 2009 | 0 Comments More
Uncertain future at London Lite Newspapers

Uncertain future at London Lite Newspapers

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” [...]

October 27, 2009 | 0 Comments More
Blasé Brits forget pension funds

Blasé Brits forget pension funds

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 [...]

September 30, 2009 | 0 Comments More
Final salary pension schemes face extinction

Final salary pension schemes face extinction

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 [...]

August 20, 2009 | 0 Comments More
American Express suspends UK pension payments

American Express suspends UK pension payments

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. [...]

July 16, 2009 | 0 Comments More
Expenses fiddling rife across UK workforce

Expenses fiddling rife across UK workforce

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 [...]

June 22, 2009 | 0 Comments More
Aon cuts employer’s pension contribution

Aon cuts employer’s pension contribution

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 [...]

April 8, 2009 | 0 Comments More
UK parents to get increased working flexibility

UK parents to get increased working flexibility

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 [...]

April 6, 2009 | 0 Comments More
Survey reveals job security fears

Survey reveals job security fears

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 [...]

December 1, 2008 | 0 Comments More