Stylo the owner of high street shoe shops Barratts and Priceless have applied to go into administration making them the latest high street casualty of the current financial crisis. Just over 5,000 jobs are now at stake as the 400 stores across the UK look likely to close, this follows fellow shoe retailers Faith and Dolci's as they too went into administration last month in January. Unemployment is estimated to be at the 2 million mark by next year and it was reported this week that there is a decline in Graduate recruitment.
Banking executives apologised this week for their role in contributing to the financial breakdown but said they were not to blame and RBS boss said staff bonuses had also been too high.
Unemployment is estimated to be at the 2 million mark by next year and it was reported this week that there is a decline in Graduate recruitment. Banking executives apologised this week for their role in contributing to the financial breakdown but said they were not to blame and RBS boss said staff bonuses had also been too high.
RBS announced they will be cutting up to 2,300 jobs and car manufaturer Bentley announced around 200 job cuts and a 10% pay cut for remaining employees in a bid to safe guard the brand. Celebrity TV chef Antony Worrall Thompson was left bitter and dissapointed at British banks after he was forced to close down some of his restaurants due to cashflow issues even though it was only temporary and he was 100% certain they would be making a profit again by the end of the year. He called for all banks in Britain to be nationalised to safeguard the people.
Panasonic are to close 27 plants around the world and cut up to 15,000 jobs worldwide as they start to struggle with the crisis that is now not only in Britain but across the world. Sony and Nintendo are also in the process of working out job cut figures as they too are looking at cutting costs. 13/02/09 Didim Today
