Job Cuts

Carmaker, which is battling Trump tariffs and Chinese competitors, faces talks with union leaders and governmentThe government has signalled that it will not invest taxpayers’ money to limit job losses at Jaguar Land Rover (JLR), after it emerged that the UK’s biggest carmaker is planning up to 4,000 redundancies.Before crunch talks on Tuesday between JLR, union leaders and government officials, the business secretary, Jonathan Reynolds, said it was not his job to “intervene and run businesses”. Continue reading...

Exclusive: Some staff call decision a betrayal of young apprentices who are often selected to increase diversityThe BBC is facing internal anger after a group of apprentices were told they could no longer expect jobs they had been promised, as a result of the corporation’s sweeping cuts programme.In a sign of the pressure the BBC is under to find savings, apprentices working with BBC News were told that “exceptional circumstances” meant the broadcaster could no longer stand by its pledge to find them permanent positions. Continue reading...

Oliver Blume faces workforce at German HQ as carmaker struggles against Chinese competition and US tariffsThe chief executive of Volkswagen has faced boos and whistles of protest at the company’s headquarters after telling thousands of workers that a comprehensive reorganisation, which could include job losses and factory closures, is vital for its future.As Oliver Blume urged more than 10,000 workers on Tuesday to “pull together”, saying drastic restructuring measures at the struggling manufacturer were essential, they held up banners and shouted slogans, including: “Our jobs are not your balance sheet adjustments”. Continue reading...

Body providing care in east London and Bedfordshire accused of ‘unfathomable and unacceptable’ moveAn NHS mental health trust plans to cut a wide range of its services and axe hundreds of jobs to close a £25m hole in its finances.The move by the East London foundation trust (ELFT) and the scale of potential cuts involved have been called unfathomable given demand for NHS mental health support is rising rapidly. Continue reading...

Carmaker, which is pushing through cost-cutting programme, expects sales to fall by up to 3% this yearVolkswagen has reported a steep fall in profits and cut its revenue forecast amid a sales slump in China, as the German carmaker pushes through a brutal cost-cutting programme that includes slashing up to 100,000 jobs.The world’s second-largest maker of vehicles said it expects sales to fall by up to 3% this year, a dramatic reversal on a previous forecast for a 3% increase on last year’s €321.9bn (£275.3bn), because of a sales slump in the highly competitive Chinese market. Continue reading...

• Major banks reported strong revenue growth driven by equities trading, with Goldman Sachs highlighting a significant surge in investment banking activity. • CEO David Solomon announced that Goldman Sachs' deals backlog has reached its highest level in five years, signaling strong potential for future revenue. • The firm is leveraging its reputation as a premier C-suite advisor to expand business into trading, financing, risk management, and wealth management.

Demonstrations at 18 sites set up as radical transformation plan put to board of Europe’s biggest carmakerVolkswagen’s proposal to slash up to 100,000 jobs and close factories faces a major test on Thursday as formal proposals are put to the supervisory board at Europe’s biggest carmaker, with protests planned at all plants in Germany.IG Metall, the influential staff union, has organised demonstrations involving shop stewards and union council members at 18 sites, including the company’s headquarters. It warned the chief executive, Oliver Blume, that he cannot “pass the buck for failures of recent years on to the workforce”. Continue reading...