UK newspaper publisher Reach to cut 550 jobs

Reach, the UK’s largest local newspaper publisher, plans to cut 550 jobs as the pandemic deepens the struggles of a group whose titles include The Mirror and the Liverpool Echo.

The decision to cut 12 per cent of the workforce came alongside plans to move to “fewer locations”, and introduce a more centralised structure across its titles in an effort to cut duplication and improve efficiency.

The pandemic has had a bruising effect on the newspaper business, which was already facing falling circulation and lower advertising spend. In the decade to 2018, roughly 250 British local news outlets closed, according to industry magazine the Press Gazette.

Jim Mullen, Reach’s chief executive, said in a statement on Tuesday that “structural change in the media sector has accelerated during the pandemic” requiring “plans to transform the business”.

The group, which put roughly 1,000 members of staff on the government’s furlough scheme in

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Pret A Manger to cut ‘1,000 plus’ jobs and close 30 stores

Pret A Manger, the food-to-go chain, has announced plans to cut 1,000 or more jobs and close 30 stores as it wrestles with a precipitous drop in UK sales.

Pano Christou, Pret’s chief executive, said on Monday that the chain faced a “significant restructuring of the business” and that job losses “could be 1,000 plus” unless it reached sales of 50 per cent to 60 per cent of pre-coronavirus levels by September.

Sales are roughly 25 per cent of normal levels and the company is burning through more than £20m in cash a month.

Pret has been acutely affected by the coronavirus crisis as its business model — to cater convenient food to commuters and office workers — has come under siege from the mass change in working patterns. Most of its target consumers are working from home with few expecting to return to city centre offices before the end

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Three-quarters of UK manufacturers set to cut jobs this year

Almost three-quarters of UK manufacturers are preparing to cut jobs in the next six months, according to new figures that will heap further pressure on the government to protect employment ahead of an economic stimulus package expected next week.

More than 10,000 jobs have already been put at risk in the past week across industries such as retail and aviation. Now, manufacturers are also warning of widespread redundancies as the government’s furlough scheme begins to wind down.

More than 40 per cent of manufacturers said they would make job cuts before the end of the year, according to a survey of members by Make UK, which represents the sector. A further third said redundancies were possible. 

Next week, the chancellor is expected to reveal a package of measures to boost the economy, from tax cuts to investment pledges, with companies calling for the immediate extension of financial support to help

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Accenture to cut 900 UK jobs as pandemic hits demand

Accenture will cut up to 900 jobs in the UK as the US-listed consultancy lowers costs due to a decline in work during the coronavirus pandemic.

The company told its 11,000 employees in the UK this week that about 8 per cent of jobs at all levels would be cut. Redundancies will start this month and conclude by September.

Demand for consultants has dropped during the financial downturn caused by the pandemic, as companies have paused deals and put large transformation projects on hold. Source Global Research, which advises the professional services industry, estimated the size of the global consulting sector would constrict by nearly a fifth to $130bn in 2020.

The UK’s large advisory and accounting firms Deloitte, PwC, KPMG and EY have cut partner pay by between 20 per cent and 25 per cent since March to preserve cash as fees, particularly from management consulting and tax work,

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