GKN to Slash More Jobs

Sky — Tue, 04 Aug 2009 11:54:59 +0000

The economic environment remains tough and makes it difficult to predict any clear trends. The car parts and engineering firm—GKN announced that compares to a profit of £118m in the same period last year, it has made pre-tax losses of £16m in the first half of the year.
The Redditch-based company has already cut 2500 jobs in the first half of 2009, are now looking to set to slash another 1200 jobs over the next two years as it continues to battle the economic recession. The news came after weaker-than-expected car markets in the US, Japan and Europe as manufacturers used up stockpiles to cope with plunging demand. It is said that this job losses will not affect the 6000 staff employed in the UK.

Staff Cut of Virgin Media

Sky — Tue, 11 Nov 2008 15:47:05 +0000

As a result of the recent austere condition, many businesses are laying off large amount of employees though it’s not the best way to cut cost. The cable, Internet and phone company—Virgin Media, which employs 14,600 people in the UK, is no exception.
In order to restructure the business, it sets to cut 2200 jobs between now and 2012. The company stated in a statement today that the staff cuts were part of the process following its formation with the merger of NTL and Telewest in 2006. Most of the reductions are expected to be pushed through between the fourth quarter of 2009 and the end of 2010. Although Virgin Media did not point to the current economic conditions as a cause of the job losses, its announcement comes at a time of intense concern about employment security in the market downturn.
According to chief executive of Virgin Media—Neil Berkett, these changes are critical to ensuring that Virgin Media is positioned to compete effectively and deliver on their customers’ changing expectations.

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GKN to Slash More Jobs

Staff Cut of Virgin Media