Lloyds job cuts
Lloyds jobs losses
Lloyds jobs losses since its merger with HBOS will reach 4,500 following the planned closure of 160 Cheltenham & Gloucester branches, with analysts predicting another 20,000 to come.
Closing the C&G mortgage and savings business will result in the loss of 1,500 jobs, the bank is expected to say later on Tuesday, adding to the 3,000 positions already cut in recent weeks.
Although the brand is expected to be kept in some form, possibly as an internet bank, the branch closures will draw a curtain on C&G's 159-year history.
Lloyds bought C&G, which was then a building society, in 1995. Its departure from the High Street follows other familiar former building society names, such as Abbey, Alliance & Leicester and Bradford & Bingley, all of which are to be rebranded Santander by their Spanish owner.
Despite the branch closures, Lloyds still expects to operate a multi-branded strategy as outlined when it bought HBOS in September last year.
At the time, Lloyds chairman Sir Victor Blank praised HBOS' model of focusing on a variety of brands. Lloyds has said it will centre its strategy on Halifax, Bank of Scotland and Lloyds TSB. It has about 3,000 branches in total.
The job losses angered Unite, the union, which has accused Lloyds of subjecting staff to "death by a thousands cuts" and has demanded the bank come clean about the extent of its cost-cutting programme.
The bank has instead chosen to announce the cuts on a division-by-division basis in what it claims is the best way of managing the process with staff.
Derek Simpson, Unite joint general secretary, described the latest cuts as "nothing short of disgraceful", adding: "This move will rip the heart out of hundreds of local communities up and down the country. Hundreds of staff who have worked hard for years to make the C&G brand a success will view this news as a kick in the teeth. UK taxpayers have not poured billions of pounds into this organisation just to see it sack thousands of hard-working people.
"This is truly a dark day for the financial services sector in this country."
A spokesman for Lloyds said; "If and when we have an announcement to make, first and foremost we brief our colleagues. We will then speak to our external stakeholders. Cheltenham & Gloucester is an important and valuable brand for our company and it will remain so."
The news was welcomed in the market, where Lloyds shares rose 1.9 to 63p. Yesterday, it successfully completed a £4bn placing that enabled the bank to repay £2.3bn of the £17bn taken from the taxpayer to date.
Categories: Job losses Tags: c&g, Job losses, Lloyds
Job losses may 2009
May 28 - 710 jobs
Hewlett-Packard, the US computer manufacturer, cut 710 British jobs as it closed down its Scottish factory in favour of cheaper staff in the Czech Republic.
May 27 - 349 jobs
Northern Foods said it will close its Hull factory with the loss of 349 jobs as the company continues to restructure and exit unprofitable business.
May 21 - 611 jobs
Defence research and technology company QinetiQ plans to cut 400 jobs in the UK this year because of reductions in the Ministry of Defence budget.
Lloyds Banking Group created more anger among unions after cutting another 211 jobs.
May 15 - 1825 jobs
Bay Trading, the fashion retailer said it was cutting 1,200 jobs and closing 125 outlets after administrators agreed a deal to sell the chain.
Lloyds Banking Group was accused of subjecting its staff to "death by a thousand cuts" after the part-nationalised lender revealed plans to shed another 625 jobs.
May 14 - 11,820 jobs
BT said it was cutting a further 15,000 jobs globally, with an estimated 10,700 in the UK.
Cookson, the industrial supplier, said it was shedding 600 workers after low demand caused revenues to slump by a third in its ceramics division.
Kesa Electricals, the owner of Comet, said it had cut 120 jobs and John Menzies, the newspaper distributor, lost 400 positions.
May 13 - 170 jobs
Sheffield-based building products group SIG cut a further 170 jobs after suffering a sharp drop in sales over the year so far.
May 12 - 560 jobs
Legal and General entered into talks with unions to cut up to 560 jobs as the insurer moved to reduce costs.
Categories: Job losses Tags: Job losses, may 2009
Job losses april 2009
April 30 - 500 jobs
BAE Systems, Europe’s biggest defence company, will cut 500 jobs and close three factories after the British government delayed the purchase of armoured vehicles.
Wincanton, which delivers goods for companies including Tesco and Sainsbury, said it was cutting 283 jobs at its home delivery unit.
Carphone Warehouse announced plans to make a further 95 employees redundant, on top of the 450 announced in February.
April 29 - 370 jobs
Lloyds Banking Group said it would cut 305 jobs and phase out the brand Clerical Medical for new business as part of its restructuring.
Sotherby's, Britain's oldest auction house, said the recession has forced it to cut 5pc of its global workforce - about 65 jobs.
April 24 - 270 jobs
Japanese electronics firm Toshiba said it would cut 270 British jobs and move production to Poland.
April 23 - 1385 jobs
Lloyds Banking Group announced the loss of 985 jobs from its car financing business, at sites including Speke near Liverpool. The redundancies are the result of combining Lloyds TSB and HBOS's car financing businesses, following the two merger of the two banks at the height of the financial crisis last year.
Insurer RSA said it would close its Bristol operations, with the loss of about 400 jobs.
April 9 - 200 jobs
Hays, Britain's largest recruitment company, said it had laid off 200 staff since the start of the year as vacancies fell by over 50pc.
April 7 - 4,500 jobs
Royal Bank of Scotland said it was cutting a further 4,500 jobs in the UK in a clear-out of its back-office operations.
April 6 - 30 jobs
YouGov, the company that brought online political polling to the UK, said it would cut 30 jobs to save £2.5m.
April 2 - 2,863 jobs
More than 2,500 British jobs were lost at just two companies as insurance giant Norwich Union and aircraft manufacturer Bombardier unveiled huge redundancy programmes.
Mobile-phone component maker AVX, based in Devon, said it was cutting 130 jobs and transferring work to the Czech Republic.
Tyneside-based cigarette filter maker, Filtrona Filters, announced plans to cut 233 jobs, blaming a worldwide decline in the tobacco market.
Categories: Job losses Tags: april 2009, Job losses
Job losses march 2009
March 31 - 1555 jobs
Visteon Corporation, the struggling US car parts maker, has its main UK subsidiary into administration with the loss of 565 British jobs.
Jarvis, the engineering business chaired by failed London mayoral candidate Steven Norris, cut 450 jobs as it reacted to a hiatus in work from Network Rail.
FG Wilson, the engineering company, said 95 jobs would be going at its three sites in Northern Ireland.
Manufacturer Leaderflush Shapland told workers at its factory in Barnstaple that it planned to cut 185 posts from its workforce of 293.
EDC Blackburn, the CD manufacturing facility, said it would close in December with the loss of 260 jobs.
March 30 - 228 jobs
Telecoms company Nortel said 228 posts would go across the UK after it went into bankruptcy.
March 26 - 150 jobs
Man Group said it would cut 270 jobs, mostly in London and Zurich, in a push to reduce overheads as redemptions gather pace and sales fall. About 150 jobs of these are expected to be in London.
March 25 - 1700 jobs
HSBC confirmed plans to cut up to 1,200 UK jobs to cut costs to cope with an increasingly challenging market.
Legal & General said it expected to make 200 additional job cuts in 2009 after warning that the outlook for the year was gloomy.
RBS said it was cutting almost 100 jobs from its business dealing with personal loans.
Pool and snooker club Rileys went into administration with the loss of 200 jobs.
March 24 - 100 jobs
The Greater London Authority said it was cutting up to 100 jobs at City Hall.
March 23 - 750 jobs
Daily Mail and General Trust said it would cut 1,000 jobs at its Northcliffe regional newspaper arm - 500 more than previously announced.
Airbus cut 250 agency jobs at its Broughton site in Wales.
March 19 - 2133 jobs
Airline and wholesale catering supply firm Casper Group was placed into administration with the loss of 320 jobs.
63 jobs were cut in Omagh after timber firm Woodlock Joinery ceased trading.
First Group, the Scottish bus and rail operator, said it will cut 1,750 jobs in the UK by March 2010.
March 18 - 441 jobs
About 120 jobs were axed after a further 10 stores that formed part of the lifestyle division of JJB Sports were closed.
Eight branches of the Original Shoe Co fashion chain and two Qube footwear outlets were closed by administrator KPMG, with 121 redundancies.
Independent car and van rental company 1car1 entered administration with the loss of 200 jobs.
March 17 - 50 jobs
Schroders cut more than 50 staff in another round of redundancies at its London headquarters.
March 16 - 100 jobs
TT Electronics, which makes electronic components for the automotive, defence and aerospace industry, will axe a further 500 jobs this year as demand collapses and profits halve - including about 100 in Britain.
March 11 - 936 jobs
Renishaw, the precision engineering group, announced plans to make more than a fifth of its workforce, 500 staff, redundant just weeks after persuading staff to take a 20pc pay cut.
Birmingham fixtures firm Savekers was forced into administration with the loss of 34 jobs.
Tesco closed its Fastway distribution depot at Daventry, Northamptonshire, with the loss of 150 posts.
NCR, the Dundee-based technology firm, ceased production after more than 60 years with the loss of 252 jobs.
March 10 - 1000 jobs
MEN Media, the publisher of Guardian Media Group's Manchester Evening News and 22 weeklies, told staff 150 jobs will go and all weekly editorial offices will be closed.
Design and engineering consultancy Scott Wilson confirmed up to 350 UK jobs will be cut.
Wrekin Construction, based in Shropshire, collapsed into administration, after RBS issued a demand for a £2.8 million overdraft to be re-paid with the loss of 500 jobs.
March 6 - 20 jobs
The Pirelli tyre company made 20 redundancies at its Carlisle plant and cut working hours.
March 5 - 1789 jobs
Catalogue firm Freemans Grattan confirmed plans to shut three of its British sites, with the loss of 1,000 jobs, after a review of the business by its German owners.
Broadcaster Channel Five will cut 87 jobs as part of restructuring plans.
The National Trust for Scotland will cut more than 90 jobs, about a fifth of its workforce, because of the economic slowdown.
East Midlands Trains said it was cutting 162 jobs, hitting management, clerical and supervisory roles.
Princess Yachts, the luxury boat firm, said it was cutting up to 450 jobs in Plymouth because of the current economic climate.
March 4 - 1400 jobs
IMI, an engineering group which makes drinks dispensers and air conditioning units, said it has cut 250 jobs in the UK since December.
ITV said it plans to cut another 600 jobs this year , after shedding 1,000 posts in 2008.
Aluminium producer Novelis said its sheet rolling mill in Rogerstone, South Wales will close with the loss of 440 jobs.
Royal Bank of Scotland said it was cutting 90 jobs at its offshore centres, which include Jersey, Guernsey, the Isle of Man and Gibraltar.
Accountancy and consulting group KPMG said it would make 20 people redundant in its Belfast operation.
March 3 - 1055 jobs
Meggitt, the Bournemouth-based engineering and aerospace group, said it planned to axe up to 750 jobs in as part of a programme to cut by about £50m a year.
305 job cuts were announced at the Indesit washing machine factory in Bodelwyddan, North Wales.
March 2 - 690 jobs
Engineering group Senior said it will cut 500 jobs in the first four months of 2009, taking total redundancies since the start of the final quarter of 2008 to 1,000.
More than 100 staff at regional UK airports will be made redundant. Manchester, East Midlands, Bournemouth and humberside airports will all shed staff because of the fall in passneger numbers, acccording to owner Manchester Airports Group.
90 staff were made redundant at Shoe Studio, despite administrators selling the business to Dune.
Categories: Job losses Tags: Job losses, march 2009
Job losses february 2009
February 26 - 3950 jobs
GKN, the British car and aircraft parts maker, warned it will axe a futher 2,400 jobs this year as the collapse in demand for new cars intensifies.
RSA Insurance said it will cut 1,200 UK jobs by the middle of next year, despite reporting a 13pc rise in pre-tax profits to £759m.
British aircraft services firm BBA said it will cut 350 jobs to face the economic downturn as it reported full-year results in line with estimates.
February 25 - 1300 jobs
Bodycote, the metals engineer, said it would axe 1,300 jobs and close or combine 31of its sites in a bid to save £18m a year.
Barratt Developments revealed it had cut 700 jobs on top of the 1,200 redundancies it announced in July, following site closures as developments were completed.
February 24 - 500 jobs
Vodafone said it was cutting 500 British jobs as part of its £1bn cost cutting drive to battle the recession.
February 20 - 446 jobs
Zavvi, the music chain formerly known as Virgin Megastores, stopped trading with the loss of 446 jobs.
February 19 - 2938 jobs
A total of 2,500 jobs were lost at footwear retailer Stylo, as the parent company of Barratts and PriceLess closed the doors on 220 UK shops.
Administrators to JJB Sports' loss-making LifeStyle division cut 438 staff following the closure of 45 stores.
February 17 - 935 jobs
GKN, the British car and aircraft parts maker, is to cut 564 jobs in the UK and close three factories.
International Paper said it would close its Inverurie paper mill in Aberdeenshire with the loss of 371 jobs.
February 16 - 957 jobs
Carmaker BMW cut 850 jobs at its Mini car plant near Oxford and scrapped all weekend shifts.
JCB, the earth-moving equipment manufacturer, is to cut a further 97 jobs at its office in Uttoxeter.
Garrington Home Finders, the company owned by property expert Phil Spencer, went into administration with the loss of 10 jobs.
February 12 - 1107 jobs
Skills Development Scotland, set up to help people deal with job losses, announced that it was making 160 staff redundant.
Joseph Pickering and sons, a packaging company in Sheffield closed after 185 years - will the loss of 42 jobs.
Oxford Instruments blamed a downturn in industrial markets for its decision to shut two overseas facilities and cut 230 jobs, or 15pc of its work force.
Iron maker Castings saw its shares tumble by 12pc, after announcing 350 jobs had been cut and warning of more to come if conditions did not improve.
Pioneer, the Japanese electronics group, announced it was closing its loss-making flat TV business and would axe 10,000 staff worldwide, with 220 jobs from its UK workforce.
Plumbing group BSS said it expects to reduce its workforce 5pc below its peak levels of 5,000 workers. However, it also expects to create 145 jobs - a net loss of 105 positions.
February 11 - 443 jobs
News International said it will cut 65 editorial jobs across its four national newspapers, which include The Sun and The Times.
Cash and carry retailer Makro announced plans to close three UK stores, in Coventry, Wolverhampton and Swansea, and cut 378 jobs.
February 10 - 2,974 jobs
RBS said it was in consultation with staff over plans to make 2,300 UK employees redundant. The cuts will affect about 2pc of UK staff.
City law firm Lovells revealed plans to cut up to 94 staff, while call-centre operator Sitel said it was making 220 employees redundant in Newcastle and Derby.
DLA Piper said it was cutting a further 140 job cuts in the UK after launching a second round of redundancies.
Luxury carmaker Bentley said it is was also cutting 220 jobs and revealed all staff will take a 10pc pay cut.
February 5 - 1392 jobs
Ford, the US car maker, is to cut 850 jobs in the UK amid the worsening slump in the motor industry.
Bombardier, the plane and train-maker, axed 300 jobs at its Belfast factory as demand for its executive jets fell.
Administrators at Zavvi announced plans to close 17 more stores with the loss of 242 workers.
February 4 - 215 jobs
Workers at Denby Pottery in Derbyshire were told 35 posts were being cut, as a result of a fall in retail sales.
South West Trains revealed that a further 180 jobs were being cut, having already axed 480 roles last month.
February 2 - 167 jobs
Axeon, the battery developer, said it was cutting 200 jobs - with about 25 in Dundee.
Components maker Mahle Engine Systems also announced 142 jobs losses at its plant in Kilmarnock.
Categories: Job losses Tags: february 2009, Job losses
Job losses january 2009
January 29 - 2165 jobs
Electrocomponents, the electronic-parts distributor, cut 340 permanent jobs and 90 temporary roles, whist creating 190 new positions. The proposals resulted in a net reduction of 150 roles in the UK.
Transport for London said 1,000 temporary and administrative posts would be cut, provoking an angry reaction from union leaders.
E.ON, which employs 18,000 in the UK, said it will cut 450 jobs across the country, mainly in its retail division. It will also close a call centre near Glasgow.
A total of 295 jobs were also cut at Zavvi following the closure of 15 stores. The retailer – the former Virgin Megastore chain – fell into administration on Christmas Eve after it was damaged by the collapse of Woolworths' Entertainment UK wholesaling division.
Linklaters said a reduction in the number of mergers and acquisitions, which it specialises in, caused by the downturn meant it would have to cut 270 jobs.
January 28 - 822 jobs
Kitchenware retailer ProCook hit out at "extortionate and ever-increasing business rates" today following its decision to close 18 stores with the loss of about 100 jobs.
GKN, the engineering company, confirmed it had made 2,800 job cuts since November, with 242 of them based in the UK.
Industrial materials group Cookson said it was cutting 1,250 jobs and scrapping its dividend in response to plunging steel markets, with 180 of the jobs being cut in the UK.
Thames Water said it was also cutting 300 jobs due to the recession.
January 27 - 680 jobs
The engineering industry was dealt a body blow as Perkins Engines announced plans to axe 450 factory and office staff. Charter International, Europe's biggest maker of welding equipment, said it was also cutting 940 jobs as the slump in the car industry spreaded to its suppliers and associated industries. However, it did not specify how many of these would be in the UK.
Manchester-based Scapa group, maker of adhesive films and tapes, said it would cut 140 jobs.
Television channel Five said it was planning to cut 90 posts from its workforce of about 270.
January 26, 2009 - 2967 jobs
Steel giant Corus announced plans to axe 2,500 staff in the UK as demand for the metal plummets.
267 jobs were lost at failed childwear retailer Adams after administrator PricewaterhouseCoopers closed 36 stores.
Ulster Bank, which is owned by RBS, is to axe 750 jobs throughout the Irish Republic and Northern Ireland. Two hundred of the redundancies will be in Northern Ireland.
January 23 2009 - 201 jobs
American chemical company Huntsman said it was cutting 201 jobs at its Tioxide plant in Grimsby.
January 21 2009 - 1000 jobs
TT Electronics, a UK-based electronics company, announced plans to axe 700 jobs as demand for new technology collapses.
J Sainsbury announced plans to restructure its London head office in a move that could lead to up to 300 job cuts.
January 20 2009 - 1110 jobs
Burberry plans to cut around 540 jobs in the UK and Spain, as the luxury brand becomes the latest company to cut costs in the face of the deepening recession. Burberry is in consultation to close a sewing factory in Rotherham, which could result in the loss of 290 jobs. The other 250 jobs will go in Spain.
Vion, a Dutch-owned international food company, is to axe 820 British jobs under plans to restructure its UK meat business.
January 15 2009 - 480 jobs
South West Trains, run by train operator Stagecoach, said it was to axe 480 jobs , including managerial staff, blaming an expected fall in passenger numbers because of the economic downturn.
January 14 2009 - 3433 jobs
Pharmaceuticals group Pfizer said it will cut up to 240 UK jobs and manufacturing group Fenner cut 290 positions.
Barclays said it was consulting on a further 2,100 jobs cuts , this time at its retail, commercial banking and credit card units.
Jaguar Land Rover, the troubled car maker, said it would cut 450 jobs ,
Administrators to Zavvi, the record chain formerly known as Virgin Megastores, closed a further 18 stores, with the loss of 353 jobs .
January 13 2009 - 3460 jobs
Barclays slashed 2,130 positions across its investment banking and investment management divisions – equivalent to about 7pc of its headcount.
SIG, the building supplier, also revealed it has cut 720 jobs in the UK and 280 in the rest of Europe, as it battles the downturn in the housebuilding industry.
Home Retail Group, the owner of Argos and Homebase, said it would cut 210 staff at a distribution centre in Manchester.
Aga Rangemaster, the maker of the Aga cooker, said it had reduced its workforce by around 400 jobs in the last year.
January 12 2009 - 2142 jobs
JCB, the digger manufacturer, said that 695 jobs would be lost as the lack of available credit from banks had meant that its customers had been unable to afford new diggers.
Publisher Pearson said that around 80 jobs will go at the Financial Times.
Around 1,000 jobs were axed through the closure of two sites operated by logistics giant Wincanton, union leaders confirmed. The GMB said 450 jobs will be lost at Trafford Park in Manchester and a further 550 at Gloucester through a merger with another logistics firm, Culina.
More than 300 staff at troubled china and crystal maker Waterford Wedgwood lost their jobs, administrators confirmed. A total of 367 workers were made redundant, the majority at the company's site in Barlaston, Staffordshire, Deloitte said.
January 10 2009 - 170 jobs
A total of 170 employees were made redundant at the Mariner Foods plant in Grimsby.
January 8 2009 - 1378 jobs
Nissan, the Japanese carmaker and a large UK manufacturer, delivered a big blow for the North East and the wider economy as it cut 1,200 jobs at its plant in Sunderland.
The adminstrator of Zavvi, the music, games and DVD retailer, closed 22 stores with the loss of 178 jobs.
January 7 2009 - 2,638 jobs
Barclays said it would cut 408 jobs in its UK technology departments. The bank said a review of its IT operations will see about 158 permanent staff and 250 contractor positions go, mainly in Cheshire and London.
Marks & Spencer announces plans to cut 1,230 jobs, close more than 25 stores and scale back investment as shoppers abandoned one of Britain's biggest high street names over Christmas.
Cattles, the subprime lender, said it plans to cut 1,000 jobs as it faces up to an "uncertain funding environment", including 400 jobs at its Hull office.
January 6 2009 - 27,000 jobs
Woolworths' last 200 UK stores closed their doors for good, leaving more than 27,000 people unemployed.
January 5 2009 - 1045 jobs
PricewaterhouseCoopers said 850 jobs would be lost at children's clothing retailer Adams, after 111 stores were shut.
Another 195 jobs were lost at the Passion for Perfume chain after the 45-store retailer collapsed into administration.
Categories: Job losses Tags: january 2009, Job losses
job losses december 2009
December 23 2008 - 280 jobs
Men's fashion chain The Officers Club fell into administration on December 23. Accountancy firm PricewaterhouseCoopers took charge of the company, axing 280 jobs and shutting down 32 of its 150 stores with immediate effect.
December 17 2008 - 750 jobs
Bus and train operator National Express reveals it will cut up to 750 jobs in a bid to save £15m next year, after the weakness of the pound cost the company £90m in the second half of the year.
December 16 2008 - 54 jobs
HP Bulmer Ltd told staff at its factory in Hereford that 54 jobs would be lost from the bottling line.
December 12 2008 - 2,600 jobs
Santander, the Spanish owner of Abbey, Alliance & Leicester and Bradford & Bingley, announced plans to cut 1,900 jobs at the three British banks next year.
Seven hundred staff at Entertainment UK (EUK), the CD and DVD distribution arm of Woolworths, lose their jobs after a buyer for the division could not be found.
December 8 2008 - 150 jobs
British Airways announced plans to cut a further 100 jobs taking the number of redundancies at the firm past 500 this year.
Postman Pat owner Entertainment Rights said it planned to cut 50 jobs , a third of its workforce, as it revealed the collapse of Woolworths had left it around £800,000 out of pocket.
December 5 2008 - 450 jobs
Administrator Deliotte said that 450 jobs will go from Woolworths' "support operations" in London and Rochdale. The two offices employ more than 1,100 staff. There have been no redundancies in the retailer's high street stores, its distribution centres or at EUK.
December 4 2008 - 4,400 jobs
Nomura, the Japanese broker, said it would cut up to 1,000 jobs in London following a takeover of failed Wall Street giant Lehman Brothers' operations.
HMRC announced plans to sack 3,400 tax officials as banks shed workers
December 3 2008 - 794 jobs
GlaxoSmithKline, the UK's largest pharmaceutical company, said it would be cutting 200 jobs at its North East manufacturing site. The redundancies at Barnard Castle, County Durham, which employs about 1,000 staff, will be made over the next 12 to 18 months.
Experian, the company that runs credit checks, revealed its intended to cut 300 jobs from its operations in Britain and Ireland.
About 200 people lost their jobs after JA Magson, the toy and stationary distributor, collapsed into administration.
Pinnacle Entertainment also went into administration with the loss of 94 jobs .
December 2 2008 - 817 jobs
Glasgow-based Bowie Castlebank Group, which includes photo-processing chains Klick Photopoint and Max Spielman and dry cleaner William Munro, said it was shedding 817 jobs across its businesses after being placed in administration.
December 1 2008 - 2,000 jobs
Aston Martin said it was planning to axe up to 600 full-time and temporary jobs because of the downturn in the world economy, hitting the company's factory at Gaydon in Warwickshire.
Car accessory and bicycle retailer Halfords confirmed that about 200 posts would be cut across its network of more than 450 stores, along with 50 more at its head office in Redditch, Worcestershire.
HSBC cut 500 jobs across the UK from non-customer facing positions.
Investment bank Credit Suisse said it was shedding 650 staff , approximately 10pc of its British workforce.
Categories: Job losses Tags: december 2008, Job losses
Construction jobs hard to find
From contractorjournal.com
Construction job vacancies evaporate as recession bites
The latest batch of employment figures provides little comfort to the thousands of construction workers who are now looking for jobs, as vacancies in the industry have plunged deeper.
The figures show that in the three months to March this year there were 12,000 recorded vacancies for jobs in construction. This is half the figure of a year ago.
The figure is not a perfect match for the job opportunities out there, but the trend as shown by the graph below does give an indication of how much harder it will be for those who lose their job to get back into work quickl
The latest update on the number of jobs in construction will come in a couple of months, but to date these figures have not matched the reality on the ground, as has been discussed before.
However the data on redundancies up to the end of last year do reflect the high level of job losses and anecdotal evidence and various announcements suggest that the upward trend has continued through the first quarter of this year.
One of the missing links in the information on the jobs market is the effect of workers from overseas. If in the face of the recession growing numbers return to their homelands, this may reduce the pain within the construction labour market.
Forecasts for construction workloads suggest the worst is yet to come, which would mean the pace of job losses could continue to accelerate over the coming months.
Categories: Job losses Tags: construction, Job losses