Telecom Giant BT announces to cut 10,000 jobs...Have Recession Started to Bite Already??
-
"Telecom Giant BT announces to cut 10,000 jobs...Have Recession ...Posted by: IdleMind"Telecom Giant BT announces to cut 10,000 jobs...Have Recession Started to ...
In its half-year results, the company said that it has already cut 4,000 employees, while a further 6,000 will go between now and March.Consultants, contractors and offshore staff among the company's total workforce of 160,000 are to be worst hit by the move, which is part of an ongoing efficiency programme, with direct staff numbers being reduced by four per cent in total.
The company's announcement came a day after national unemployment rose to 1.825 million - its highest level for 11 years. A further 140,000 people were out of work in the three months to September.Economists have forecast that the total will pass 2 million in the new year and could exceed 3 million as the economic downturn continues to worsen.
-
- Share:
-
-
-
-
-
-
Reach -
Credibility
-
Related Allvoices Contributions
-
Administration plans big pay cuts at bailout firms
By: BiodunIginla
Thursday, October 22, 2009 by Melissa Gruz, US Desk of BBC News for the BBC'a Biodun Iginla<
about 1 month ago
-
US 'plans bail-out firm pay cut'
Firms in the US which received billions of dollars of government aid in the financial crisis are to be told to cut the pay of top executives. The seven companies that received the most aid from the US Treasury will have to reduce the basic salaries of their 25 best-paid employees by up to 90%. The totals paid to each firm's 125 top earners ...
about 1 month ago
-
President Barack Obama's stimulus plan cannot reach all industries
Eastern Connecticut once was the Mecca of the textile industry, with active and occupied mills and factories on nearly every street corner that came to define the town. Thousands of western European immigrants traveled just to the area for the certainty of a paying occupation in the textiles, in mills thriving from Danielson to ...
about 1 month ago
-
Tribune Newspapers To Close Dec. 31
By: ChrisSieroty
The Tribune Newspapers, which publish editions in Mesa, Gilbert, Chandler and Queen Creek, will cease operations on Dec. 31, the parent company Freedom Communications announced Monday. Freedom officials announced the closure to employees Monday morning, citing economic reasons, industry pressures and the inability to find a suitable buyer for ...
about 1 month ago
- News Source: International Business Times | about 1 year agoThe company said profits rose because last year's earnings were artificially weighed by a large one-time restructuring cost, so the job cuts--which come on top of 4,000 already made--were necessary to improve overall profitability. The majority of...
- News Source: Asian Age | about 1 year agoThe majority of the job cuts will be in the area of indirect labour, including agency, contractors, and offshore workers, including those based in India, the company said. At present, BT employs more than 20,000 people across the Asia-Pacific region,...
- News Source: The Scotsman | about 1 year agoNO apologies for this reading like the Blog of Doom. I've tried to remain upbeat in recent weeks but any optimism has been extinguished by the events of the past few days. Virgin Media (2,200 posts), GlaxoSmithKline (over 600 jobs) and Vodafone (...
- News Source: Xtra News | about 1 year agoThe International Energy Agency (IEA) slashed its 2009 oil price forecast to 80 dollars from 110 dollars on Thursday, saying imminent recession is strangling demand in rich countries and crimping emerging economies . The IEA made further big cuts to...
- News Source: Guardian Unlimited | about 1 year agoThe Federal Statistics Office said GDP contracted 0.5% in the third quarter, following a 0.4% drop in the second, which corresponds to the official definition of a technical recession – two consecutive reductions in GDP...Analysts had predicted...
- News Source: New Statesman | about 1 year agoAnyone who has ever experienced the misery of unemployment will have felt a chill on hearing this week's labour market statistics. It is a truth universally acknowledged that rates of alcoholism, drug abuse and depression rocket in times of recession.
- Video Source: youtube.comImpact of economic downturn on ...Video Source: youtube.comPart 1: The impact of the nation's current economic downturn on low- ...
- Video Source: youtube.comImpact of economic downturn on ...Video Source: youtube.comPart 2: The impact of the nation's current economic downturn on low- ...
- Video Source: youtube.comIMF: Global Economy Headed For ...Video Source: youtube.comIMF: Global economy headed for 'major downturn'; Spanish Banks to ...
- Video Source: youtube.comGLOBAL MARKETING IN AN ...Video Source: youtube.comVideo Marketing for National and International Markets Video marketing is ...
- Video Source: www.truveo.comInternet Marketing Profits ...Video Source: www.truveo.comInternet marketing can suffer during a recession. Here are three steps to ...
- Video Source: www.truveo.comEconomic Worries - ASK THE ...Video Source: www.truveo.comSince the beginning of the current business cycle in early 2001, family ...
Cell phones use report code: Related Allvoices Reports
Site Links
Site Topics
Contributions
- Report Your News
- Add your voice and contribute via your cellphone - check out how to Report News via Your Cellphone
- Blog Widget
- Widget for Blog Owner
