UK News Upper Crust owner SSP to axe 5,000 UK jobs

02:05  01 july  2020
02:05  01 july  2020 Source:   news.sky.com

'Vital green shoot' as number of UK job adverts increase

  'Vital green shoot' as number of UK job adverts increase The number of job adverts in the UK has increased, new research suggests, as sectors such as hospitality start to emerge from months of lockdown. © Imagebridge Pubs, bars and restaurants in England will be able to welcome customers again on Saturday There were 990,000 job adverts in the last week of June - 27,000 more than in the first week of the month, the Recruitment & Employment Confederation said.

British travel food group SSP will cut up to 5 , 000 jobs due to the impact of the COVID-19 pandemic on international travel, Sky News reported on The job cuts will be spread across its British operations, and could impact 55% of the 9, 000 -strong workforce employed by the Upper Crust owner during the

Airbus could axe more than 10, 000 staff within days as the European aerospace behemoth slashes costs in the face of a collapse in air travel. About 10pc of Airbus staff are in the UK , mostly at a plant in Broughton, north Wales that makes wings for all the company’s planes, and an engineering base

The grim toll of coronavirus-related job losses will rise again on Wednesday when the company behind the Upper Crust catering brand discloses plans to make more than half of its UK workforce redundant.

a person standing in front of a building: Upper Crust is part of the SSP Group © PA Upper Crust is part of the SSP Group

Sky News has learnt that SSP Group, which has seen its revenues decimated by the impact of the pandemic on international travel, will unveil plans to axe up to 5,000 jobs in a statement to the London Stock Exchange.

Insiders said the cuts would be spread across SSP's British operations, and could impact 55% of the 9,000-strong workforce employed by SSP during the peak summer period.

Accenture cuts up to 900 UK jobs as it faces pandemic strain

  Accenture cuts up to 900 UK jobs as it faces pandemic strain Accenture is to cut up to 900 UK jobs blaming "additional strain" on the business caused by the coronavirus crisis. © Getty Accenture has UK offices in London, Manchester, Newcastle and Edinburgh The US-owned consultancy firm, which has offices in London, Manchester, Newcastle and Edinburgh, is the latest business to take an axe to its workforce because of the pandemic.Thousands of cuts have been announced in recent days by companies ranging from Upper Crust owner SSP to aeroplane maker Airbus.The job losses at Accenture will see between 700 and 900 go.

Upper Crust owner SSP Group has warned it expects to take a £ 5 m profit hit in February as sales in the Asia Pacific region halved this month due to the around £10m to £12m this month.Read more: Upper Crust owner SSP sales rise on strong UK passenger growthOperating profit for the whole

Upper Crust owner SSP (SSPG.L) on Wednesday asked investors to reinvest its final 2019 dividend in the company as part of a £26.8m share placing. The cash will be used to bolster the company’s balance sheet during the coronavirus pandemic, which has severely dented its sandwich shops.

The savage scale of the potential restructuring underlines the fact that travel industry revenues have not yet begun to recover in a meaningful way since the end of the UK-wide lockdown, with major airports barely functioning because of the government's 14-day quarantine policy.

About 580 of SSP's sites, which include those trading under the Caffe Ritazza brand, are located in the UK.

A message circulated among staff on Tuesday, part of which has been seen by Sky News, said the company had "come to the very difficult conclusion that we will need to simplify and reshape our business and, from tomorrow, we will be starting a collective consultation on a number of proposed changes to the business".

It added: "This includes a proposed reorganisation which could lead to a headcount reduction of up to c.5,000 across SSP Group, SSP Finance and SSP UK, which includes all head office colleagues and both salaries and hourly paid colleagues in operations."

Cafe Rouge and Bella Italia owner cuts 1900 jobs

  Cafe Rouge and Bella Italia owner cuts 1900 jobs Casual Dining Group, owner of Bella Italia, Cafe Rouge and Las Iguanas, is to cut more than 1,900 jobs and close 91 restaurants after calling in administrators. © PA The closures will affect 31 Cafe Rouge branches It blamed the "extreme operating environment" - which has seen restaurants shut since the start of the coronavirus lockdown in March.The closures represent more than a third of the company's 250 UK sites around the UK. It leaves around 4,050 employees still in work, with 1,909 facing redundancy.

IBM employs about 25, 000 people in the UK and has 100, 000 staff across Europe. The majority of the 10, 000 to 13, 000 redundancies are planned for Europe, where the company began cutting jobs before it announced disappointing Upper Crust owner SSP admits sales have been 'extremely

UP TO 750 UK jobs are at risk after Texan technology giant Electronic Data Systems said it would slash up to 4% of its global workforce to cut costs. Share or comment on this article: EDS may axe 750 UK jobs . Some links in this article may be affiliate links. If you click on them we may earn a small

SSP traded before the COVID-19 crisis from approximately 2,800 units in airports, train stations, motorway services stations and other leisure-related sites.

The company says it served 1.5m customers daily in 35 countries, including at 180 airports and 300 rail stations.

SSP, which employs 9,000 people in the UK, declined to comment.

A source close to the company said its chief executive, Simon Smith, and its board had taken 30% pay cuts until at least September.

It has twice raised money from shareholders during the pandemic to shore up its balance sheet.

Announcing its interim results earlier this month, Mr Smith said SSP's response had been "to take quick and decisive action to protect our people and our business, whilst around the world our colleagues have helped and supported their local communities".

"Looking forward, and with sufficient liquidity to manage a pessimistic trading scenario, I believe the actions we have been taking during this crisis will make us a fitter and stronger business, well placed to deliver for all our stakeholders as the travel market recovers," he said.

Airbus. The State requests that the restructuring plan be limited to a minimum of forced departures .
© PASCAL ROSSIGNOL / Reuters / Illustration An A350-1000 aircraft in full flight at Paris Le Bourget airport, June 18, 2019. Ce Wednesday, Jean-Baptiste Djebbari urged Airbus to save as many jobs as possible from the 5,000 job cuts planned at the outset by the French aircraft manufacturer. The secretary of state expects about 2,000 salvable jobs. The group’s human resources director suggests that between 1,500 and 2,000 positions could be saved.

—   Share news in the SOC. Networks
usr: 0
This is interesting!