Subscribe Feed (RSS)More jobs go as recession casualties increase
January 8th, 2009 by admin | Filed under Daily News, Debt, Recession, Retail, UK Small Business.The casualty list of businesses in trouble and people losing jobs is continuing to grow.
Out-of-fashion clothing maker Viyella is in administration and 450 jobs are at risk. Administrators are letting the firm continue to trade in the hope that another fashion company will buy the 225-year-old brand.
Barclays said it would cut just over 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.
Shares in restaurant chain Fishworks were suspended on AIM overnight due to trading difficulties.
Bubbly has gone flat for Majestic Wine as sales dipped at Christmas as drinkers tightened their belts.
Former Virgin Megastores chain Zavvi confirmed all 22 UK stores are closing with 178 jobs going.
In the UK, almost 70,000 jobs have been lost since November, while in the US, the figure is 10 times worse at 700,000.
The recession is not limited to the UK and US. In Germany, unemployment is standing at more than three million.
The silver lining for some companies is supermarket Sainsbury’s reported their best Christmas trading figures ever, while down market brands like New Look and Peacocks are experiencing increased sales.
Sainsbury’s – who already employ about 150,000 people – plans to take on between 3,000 and 4,000 more staff this year as it continues to expand its convenience store business,
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Tags: British Economy, Finance, Financial News, Money Markets, Recession, Retail
