Employee Engagement

John Lewis pays lowest staff bonus since 1950’s as profits plunge

John Lewis has paid out its lowest bonus to staff since the 1950s as profits plunged last year amid “challenging” trading. The retail partnership – which includes Waitrose supermarkets – said staff would receive a 3% bonus, the lowest since 1953 when workers got no bonus. Profits at the partnership sank last year by more […]

Debenhams in profit alert as sales continue to slide

Struggling department store chain Debenhams has issued another profit warning as its sales continue to fall. In a trading update, the retailer said the forecast it made on 10 January, when it said full-year profits were set to hit analysts’ expectations of about £8.2m, was “no longer valid”. Like-for-like sales at the firm for the […]

PPI cold caller banned for making 221 million nuisance calls

A man has been banned from running a company for eight years after two firms made 221 million nuisance calls. Richard Jones was director of Miss-Sold Products UK Limited and Your Money Rights Limited that made unsolicited PPI calls in 2015 and 2016. Mr Jones, 31, from Carmarthen, cannot be involved in forming or managing […]

Rail franchise model broken and cannot continue says industry chief

Britain’s rail franchise system no longer delivers clear benefits and cannot continue as it is, says the man leading a review of the network. Keith Williams said in a speech to industry leaders that firms are not adapting to changing consumer demands. Rail franchising – contracting out passenger services – has drawn heavy criticism, with […]

Workplace disconnect between millennials and their organisations

Workers haven’t realised the advantages of mobile, with 91% still preferring to use a desktop or laptop for administrative tasks, as revealed by research commissioned by ABBYY, the global provider of content IQ solutions. The research, of 1,246 employees in the UK, found that only one third (35%) use mobiles for administrative tasks, despite 43% of […]

Hotel chain blames Brexit for shortage of workers and profit fall

Millennium & Copthorne Hotels has blamed a shortage of workers due to Brexit uncertainty for contributing to falling profits. The hotel chain reported a 28% fall in pre-tax profits to £106m for the 12 months to 31 December 2018, compared with the same period in 2017. It said Brexit concerns had affected its UK hotels, […]

Royal Bank of Scotland warns of Brexit harm as profits double

Royal Bank of Scotland has reported profits of £1.62bn for 2018, more than double the £752m it made a year earlier. RBS chief Ross McEwan called the results “a good performance in the face of economic and political uncertainty”. Mr McEwan said the UK economy faced “a heightened level of uncertainty related to ongoing Brexit […]

New Ofgem cap prompts E.On to raise prices

Energy supplier E.On has become the first major company to announce price rises in response to a new cap set by the regulator for the start of April. On Thursday, Ofgem said it would allow suppliers to charge more to those on default tariffs owing to a rise in wholesale costs. Now E.On has confirmed […]

Liverpool announce world record £106M net profit

In their yearly financial results, the Reds made an annual pre-tax profit of £125m – up from £40m – as turnover increased in the 12 months to May 2018 by £90m to £455m, also a record. Liverpool were boosted financially by a run to the Champions League final last season, which earned an estimated £72m. […]

Troubled Thomas Cook considers sale of its airline

Thomas Cook has said it is conducting a “strategic review” of its airline as it seeks to find funds to invest more in its hotels business. The travel firm stressed the review was at an early stage, but would consider “all options” including a sale. The company’s fleet of 103 jets is a mix of […]