Jobs Risk

• Morgan Stanley has upgraded its projections, warning that approximately 20% of banking jobs in Europe are at risk of being replaced by artificial intelligence. • The report highlights a significant shift in the financial sector as AI capabilities evolve to automate tasks previously handled by human employees. • This trend underscores the growing impact of the AI revolution on professional services, potentially leading to large-scale workforce reductions across the continent.

New owner Modella Capital, which rebranded shops to TG Jones, blames weak consumer spending Dozens of former WH Smith stores are likely to close, putting thousands of jobs at risk under a radical restructuring plan by their new owner, which had rebranded the shops to TG Jones,The investment company Modella Capital, which bought WH Smith’s chain of 480 high street stores for £76m last year, blamed “weak consumer spending” as it set out the plan to landlords on Wednesday. Continue reading...

More than half of roles could be hit and young shop workers in particular could lose out, trade body warnsMore than half of retail jobs could be affected by reform to guaranteed working hours, making it harder for shops to employ people – particularly young workers – in part-time roles, the industry’s lobby group has warned.From April, the Employment Rights Act will introduce new protections for workers on sick pay, sexual harassment, parental leave and trade union recognition. Continue reading...

PwC called in as administrators after company runs out of cash, leaving it unable to pay landlords and creditorsNational Car Parks, the UK’s biggest car park operator, has fallen into administration, putting nearly 700 jobs at risk.NCP’s board of directors called in PwC as administrators after it ran out of cash, leaving it unable to pay its landlords and creditors, with significant rent payments falling due at the end of March. Continue reading...