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British companies have cut more than 24,000 jobs over the past week, after Rolls-Royce, AstraZeneca and BAE Systems this morning added to the growing tally of unemployment.
Rolls-Royce said today that between 1,500 and 2,000 jobs will be lost over the next year, with 140 expected to go at its assembly and test facility in Derby. The aerospace engineer employs 39,000 workers globally, and 60 per cent of its workforce is based in the UK.
AstraZeneca, the Anglo-Swedish pharmaceuticals company, said it planned to cut 1,400 jobs and close three factories in Europe as part of a programme to improve efficiency. About 250 jobs in Macclesfield and Sweden are likely to be affected.
The factories earmarked for closure are in Spain, Belgium and Sweden and the jobs will be lost there by 2013.
A further 200 jobs will go at BAE Systems, at factories in Newcastle, Leeds, Leicester, Barrow and Telford. The company, which blamed the cuts on declining workload on the Armoured Fighting Vehicle Programme for the Ministry of Defence, said it would launch a voluntary redundancy programme immediately.
Falling sales and rising investor withdrawals from unit trusts have prompted Fidelity International, the fund manager, to cut 300 jobs.
Daily Mail and General Trust, the newspaper and information publisher, this morning said that 400 jobs had been lost across the group over the past two months as part of previously announced cost-cutting measures.
Today's announcements bring the total number of jobs cut by British companies since last Wednesday to more than 24,000.
Last week, BT announced that 10,000 jobs would go. The Royal Bank of Scotland is to cut 3,000 jobs, Virgin Media 2,000 and the closure of a GlaxoSmithKline factory in Kent will result in 620 losses.
Earlier this week Wolseley, the construction company, announced a further 2,000 jobs, on top of previous reductions. Citigroup also announced that 52,000 jobs would go worldwide, of which 2,000 are expected to be lost in the UK.
Last week, unemployment hit an 11-year high of 1.82 million. On Monday the CBI predicted that unemployment could peak at close to 2.9 million next year.
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Radical action is required in the budget .Tax cuts to ensure they stimulate the right parts of the economy ,Slash corperation tax to15p inthe pound/ 6 month NI holiday for employers.Ensure affordable credit is available via N rock/BB.Uncertain times mean that people will not spend direct tax cuts.
J Bennett , Pontypridd,
RBS cut thousands of contractors (one-man companies ,who will all now effectively be out of work) on Tuesday - why didn't this make the news and are these lay-offs included in the figures?
Marcus Scraven, London,
A condition of the bank bailout should be that banks are forced to bring their Call Center activities back to the UK. This will increase employment, consumer spending and increase tax revenues. The original motivation of the banks was to reduce costs i.e. increase profits but now owe the UK tx payer
Steve, Bedford, UK
Jobs losses up, immigration up = Recipe For Disaster!
steve tea, manchester, cheshire
If you wish for the bridle paths to be cleared, why not start it yourself, or get a team of like minded community horse riders & all do it. There's a job for your weekend :-)
Michele, Swindon, UK
Of the 10000 jobs in BT only 4K are in UK according to the BBC. As usual the press is doing is best to spread pessimism and panic. We all know tough times are ahead and frankly we don't need the press to remind us this constantly.
Nicola , London, United Kingdom
this guy who wants bridal paths opened up? WHAT PLANET DOES HE LIVE ON ? People are loseing their houses and jobs for gods sake? get real?
kelvin, st albans, england
Even though this is bad for some this might be good for others. Could we please utilise some of these available hands to enhance our bridle paths and roads. Please note that it has for several years been a serious issue for horse riders that rides have not been optimal. Spend more money.....
Charly, Sussex, UK