The owner of the Bella Italia, Café Rouge and Las Iguanas restaurant chains has collapsed into administration, with the closure of 91 restaurants and loss of 1,900 jobs. Casual Dining Group is the latest company to fall victim to the coronavirus pandemic this week, with thousands of jobs shed across the high street and aviation in recent days. Many firms had also furloughed staff and cuts are now being made as the scheme starts to wind down.
Among the firms announcing cuts and closures are:
John Lewis has warned of job losses as it plans to close several stores, with details to be shared with staff in mid-July.
The owner of takeaway chains Upper Crust and Caffe Ritazza announced it could cut 5,000 UK jobs.
Topshop owner Arcadia Group is set to cut 500 jobs in head office roles in what it called “essential” restructuring.
Harrods plans to cut 680 roles, citing the “devastation” of international travel as a major factor in its loss of custom.
Shirt maker TM Lewin said it could no longer afford rent and store overheads, and is permanently closing all outlets, affecting around 600 jobs.
Furniture chain Harveys and sister brand Bensons for Beds have fallen into administration, with PwC seeking a buyer for around 20 stores.
Management consulting firm Accenture will cut up to 900 roles.
Virgin Money, Clydesdale Bank and Yorkshire Bank will lose 300 employees.
Aircraft manufacturer Airbus will axe 1,700 UK roles.
1,300 crew and 727 pilots at easyJet face unemployment.
Wow. What a challenge. Balancing the needs of a nations health against what is best for the economy, jobs and everything else we have previously taken for granted. I wouldn’t want to be in government right now. Inevitably more jobs will be cut and more high street names will disappear before we see any light at the end of this tunnel. As for what will be left of the high street, your guess is as good as mine.
This is getting serious now. So many job losses. The prediction was up to 25% of all jobs would be lost post-coronavirus. These figures are taking us well on the way. I’ve seen a massive increase in redundancies following furlough and the changes to the scheme make it difficult for many jobs to survive. Add the economy issues to the fact that many employers will just see it as an opportunity to lose staff. Changes in technology may just mean that not as many people are actually required anymore. Or at least not of that type - so shop staff for instance get replaced with warehouse and distribution staff for online orders.
Sadly, things are ramping up on the job losses front with extra store closures to boot. Devastating for those immediately affected... downright sobering for those of us who are not (yet)
Businesses are being forced to cut costs dramatically to survive, so that inevitably means job losses. It also a sign that these businesses are not expecting any quick economic rebound. Instead, they're planning for tough times to continue.