More than half a million Brits over the age of 50 will lose furlough support tomorrow September 29, 2021 As the furlough scheme comes to an end tomorrow, concerns are being raised about the number of workers over the age of 50 who are still furloughed. More than 540,000 people in the age group were on furlough in August, accounting for 35 per cent of the total, according to research. Rest Less, which offers [...]
Euan Blair’s Multiverse education startup raises $130m to become a ‘soonicorn’ September 29, 2021 Multiverse, the apprenticeships startup co-founded by Tony’ Blair’s eldest son Euan Blair, has edged closer to a unicorn valuation after closing a fresh $130m (£95m) US investor-led funding round. In the largest EdTech (education tech) investment in the UK to date, the Series C fundraising round, which was led by US investment firms D1 Capital [...]
Wave of redundancies looming: 70 per cent of UK employers expect job cuts as furlough scheme ends September 27, 2021 Nearly 7 in 10 employers expect to make redundancies within the next year, the majority of which will take place within the coming months, according to new research shared with City A.M. this morning. According to the study from Renovo, 69 per cent of all UK employers anticipate job losses, with 46 per cent of organisations [...]
Booming UK tech sector now accounts for one in eight jobs – and they’re much better paid September 23, 2021 As investment in UK startups soared to £13.5bn in the first six months of 2021, hiring surged across the country, with tech now making up 13 per cent of all UK job vacancies. While some industries are still grappling with the fallout from the pandemic, the UK’s tech sector is comparatively booming, and companies across [...]
Prime Ministerial endorsement: Cognizant zooms in on UK with 2,500 new hires September 20, 2021 The Prime Minister has today announced that global consultancy Cognizant will expand its digital UK workforce by 35 per cent over three years. The announcement comes as Boris Johnson hailed the UK’s “tech revolution” in “creating jobs, driving growth and boosting investment across the country,” and at the start of London Tech Week. The move [...]
City hiring spree: Financial services sector’s recruitment plans to break records this autumn September 16, 2021 Employers in London have ambitious plans to increase their headcount as they enter the fourth quarter, according to new research shared with City A.M. this morning. Even though London’ outlook was the lowest of all regions in the fourth quarter of last year, at minus 13 per cent, businesses in the capital now have one [...]
Exclusive: Experts weigh in on why more older people are exiting the workforce earlier September 9, 2021 The Department for Work & Pensions published a report this morning which showed that, over the past year, older people have been exiting the workforce earlier. Moreover, the employment rate of people aged 50-64 has also fallen slightly. City A.M. sought the views of six recruitment, HR and financial experts on why this is happening. Sarah Loates, [...]
UK redundancies fall to lowest in seven years despite furlough taper September 7, 2021 Proposed job redundancies in the UK plummeted to their lowest level in seven years in August, despite the fast approaching deadline of the government’s Covid furlough scheme. British employers proposed 12,687 job cuts in August – down almost 80 per cent from the same time last year, when the figure stood at 57,469, according to [...]
UK food producers push PM to grant 12-month visas to solve supply problems August 27, 2021 Companies from across the UK’s food chain are calling on the UK Government to grant thousands of extra one-off visas to solve Brexit-induced supply chain problems that now threaten to ruin Christmas. Companies and lobby groups representing food production companies from paddock to payment counter want a 12-month visa to be created for HGV drivers [...]
Brexit and Covid impact: More than 90,000 EU workers to have left UK hospitality jobs August 5, 2021 More than 90,000 EU workers left the UK’s hospitality sector in the last year, new figures have revealed. Fresh research from jobs site Caterer.com found that three out of five hospitality employers are now receiving record numbers of applications from UK workers. London was identified as acutely affected by the exodus with the research estimating [...]