Britain's biggest high street bank has revived its restructuring plans by axing 865 jobs, months after it revealed gloomy forecasts for the UK economy. While those jobs include those linked to shops operating at the airport, Heathrow has said it would have to cut up to 1,200 of its 4,700 staff as Rishi Sunak's furlough scheme concluded at the end of October. About 600 of the company’s 4,000 staff in the UK – roughly 15pc of the workforce – stand to lose their jobs. JCB is set to cut up to 950 jobs, or 15pc of its UK workforce, after demand for its diggers halved since the coronavirus pandemic began. Guidance for people who were employed and have lost their job due to coronavirus (COVID-19). All rights reserved. The redundancies announced alongside its annual results represent more than a sixth of the FTSE 100 company’s workforce going over the coming three years. It said it had taken the decision due to an "unsustainable operating environment for the foreseeable future". Investec said it plans to axe 210 jobs at its London headquarters as the banking and wealth management firm warned that profits could fall by up to 60pc in the first half of the year. In 2020, the total number of job losses in the retail sector in the United Kingdom (UK) reached 170,718 as of December 31, 2020. Bentley Motors is seeking to lay off up to 1,000 staff – almost a quarter of its workforce – through a voluntary redundancy programme in return for a severance payment. The economic fallout from the pandemic has plunged the UK into the deepest recession for more than 300 years, as lockdowns, physical-distancing measures and people voluntarily making changes in response to high numbers of Covid infections have a dramatic impact on business and social life. Anne Pitcher, managing director of Selfridges Group, said sales this year would be "significantly less" compared to 2019, adding that the current year would be "without doubt" the toughest in its recent history. Chief executive Shai Weiss said: “We have weathered many storms ... but none has been as devastating as Covid-19.”. Waterstones will make many of its head office staff redundant in the wake of Covid-19, the chain announced. The support for jobs is believed to have reduced the number of job losses. The Devon-based distribution company has stated it expects to make around 100 workers redundant out of its 2,700 strong workforce. HSBC is resuming a massive redundancy plan that had been put on pause after the outbreak of coronavirus, with 35,000 jobs set to be cut worldwide. Boohoo has made a deal to buy the Debenhams brand but not its stores, meaning some 10,000 staff are set to lose their jobs the department store chain disappears from the high street. UK engineering giant Boeing, heavily disrupted by the devastation wrought across the aviation sector, announced plans to make 7,000 more job cuts after counting a $3.5bn (£2.7bn) loss for the three months to the end of September. EasyJet is axing 1,900 jobs in the UK, including 727 pilots and 1,200 cabin staff. The chain will also slash some 2,800 jobs after 10 years of growth were wiped out by the Covid sales crash. Deutsche Bank, one of the City’s largest employers, said it was ploughing ahead with its plans to cut 18,000 jobs despite the coronavirus pandemic. Britain's biggest airport owner, Manchester Airports Group, has warned its staff of plans to axe nearly 900 jobs due to the pandemic. BORIS Johnson has warned Britain will be battered by more job losses this year as Covid hammers high streets. The BBC is to cut 520 jobs across its English regional TV news and current affairs, local radio and online news. British engineering company Meggitt plans to shed about 1,800 jobs as part of a cost-cutting scheme to cope with a contraction in the world’s air travel market due to the coronavirus pandemic. The firm said the virus and subsequent lockdown had “accelerated” a review of its operating model which had already been under way. Troubled foreign exchange provider Travelex struck a rescue deal to stay afloat, but with the loss of more than 1,300 UK jobs. The company employs approximately 1,100 people in and around Southampton. IBM is expected to cut up 10,000 jobs across Europe, including 2,000 in the UK and Ireland, in a bid to lower costs at its services unit ahead of a sale. The airport, London’s fourth largest, has started consultations with unions to sack 250 jobs – almost 30pc of its workforce – after forecasting a 70pc drop in passenger numbers this year because of the coronavirus pandemic. A leaked email seen by The Telegraph showed bosses at Emirates told their 600-strong British staff that it had to “consider reducing the size of the UK workforce”. The UK charity has also said 782 employees have taken voluntary redundancy, as part of measures aimed at saving £59m a year. By Tera Allas, Marc Canal, and Vivian Hunt A total of 819,000 people lost their jobs in the UK ⦠That was before the Government announced a second month-long national lockdown from Nov. 5. It plans to restructure its head office and store teams and close 48 Boots Opticians stores. It has also launched a full review of overhead costs, which will be concluded by the end of the year. The Gambling Commission announced in August that it would be moving ahead with plans to cut jobs as part of wider cost saving measures aimed at saving the organisation £1m. Heathrow Airport chief John Holland-Kaye said that a third of the 76,000 people employed at the airport could be made redundant as it battles to stem losses following a huge collapse in air travel. Cruise giant Carnival UK has announced plans to make a “large number of redundancies” in Southampton as it grapples with the havoc the coronavirus outbreak is wreaking on the travel industry. Later in October the dining establishment warned of another 1,300 redundancies, though no extra closures, as it counted the cost of the 10pm curfew and the three-tier system of restrictions. Brewer and pub chain Greene King has vowed to close 79 sites - of the 3,100 it operates - as a result of the crisis. Wave of job losses coming as UK cuts COVID support. The chain was bought in a rescue deal by Boparan Restaurant Group, which also snapped Carluccio's out of insolvency earlier in the pandemic. Housing services and construction firm Mears has warned it may have to make job cuts. Burberry has said it will streamline front-office and certain retail functions to cut costs, including the loss of 500 jobs worldwide, after global lockdowns caused sales to fall by almost half in the latest three months. Whitbread, which also owns chains Beefeater and Brewers Fayre, said the cuts are vital to protect its business. Consultancy firm Accenture is planning to cut up to 900 jobs in the UK as the firm tries to cut costs to deal with the fallout from coronavirus. The company’s sister business Bensons for Beds also called in administrators but was immediately bought back by its owner through a so-called pre-pack rescue deal where it is shorn of debts. Laura Ashley blamed coronavirus for its decision. The purge means TSB will shut 246 branches in 2020 and 2021 – cutting total numbers by 46pc in just two years. Arcadia had already announced 500 UK job cuts amid the coronavirus crisis. The company, which has 244 restaurants in the UK, is in talks with creditors over a Company Voluntary Arrangement (CVA) restructuring deal after facing “significant disruption” in the last six months. In the past two months, the proportion of people to lose their job aged 16 to 25 was 11.1%, compared with 4.6% for those aged 26 and over, academics at the London School of Economics found. It has been another eventful couple of weeks in the global energy sector. UK job losses underline scale of COVID-19 challenge - Sunak. German courier service DHL has announced that it will be slashing up to 2,200 jobs in its UK division which is responsible for doing logistics for Jaguar Land Rover. The move comes just four months after it said all its 531 standalone Carphone Warehouse shops would shut. Rolls-Royce has launched a wave of job cuts in a bid to slash costs. Ten staff in Britain and four in Australia have been furloughed and their future remains unclear. Virgin Atlantic plans to cut another 1,000 jobs on top of the more than 3,150 jobs it announced four months earlier. The bosses of Britain’s biggest independent travel agent called on Boris Johnson to save summer by restarting flights to the Spanish islands as they cut up to a fifth of their 4,500-strong workforce. It came just weeks after the cinema chain revealed it had recorded $1.6bn (£1.3bn) in losses for the six months to the end of June. Arcadia workers’ pensions remain at risk – Arcadia’s staff pension pot has an estimated £350m deficit. Though it did not reveal how many colleagues would be affected, it has started consulting with those in its Piccadilly head office whose jobs are at risk. Administrators said Antler had been “profoundly impacted” by the coronavirus pandemic. The broadcaster said it would cut roughly 15pc of its BBC England team, as it seeks to bolster its balance sheet amid the coronavirus crisis. Like most of its rivals, the bank froze the shake-up due to the coronavirus crisis but is now reigniting its original plans. At the start of November Lloyds announced another 1,000 UK job cuts. Sushi restaurant chain Yo! However, it later revealed it had axed almost double that figure - 953 - in a torrid set of half-year trading figures. Travel trade association Abta said the coronavirus pandemic is the main reason for its failure as it battled with thousands of refunds and a stop to new bookings. It said 1,070 roles would go, but that it would create 340 new ones. Accenture is a US firm headquartered in New York, but it employs more than 10,000 people in the UK. McLaren has been particularly hard hit because the pandemic has halted the Formula 1 racing season, which accounts for a large chunk of its earnings. Vice Media Group boss Nancy Dubuc told staff in an internal memo in May that the company was cutting 55 jobs in the US and 100 globally, mostly to its digital operations. It is not known exactly how many staff will be let go. Published 8 April 2020 Last updated 3 ⦠Shoe chain Clarks is preparing to slash 900 corporate roles, which will be partially offset by the creation of 200 new jobs. Gatwick airport is to cut up to 600 jobs in response to the “devastating impact” of Covid-19. Oasis and Warehouse were bought out of administration by Hilco in April, resulting in 1,800 UK job cuts. School closures and job losses in UK âcould lead to social unrestâ | Coronavirus February 5, 2021 by Young people are at risk of becoming unemployable and turning to crime amid partial school closures and rising joblessness, in a spiral that could lead to social unrest, the crime commissioner for Englandâs second biggest force has warned. The Guardian has plans to make UK job cuts in both editorial and commercial roles, due to the economic shock caused by the coronavirus pandemic. Wetherspoon will axe up to 130 roles at its head office as it seeks to cut costs amid the virus-induced downturn in the pub and restaurant sector. Melrose has warned of significant job losses at its GKN Aerospace division as the turnaround investor swung deeper into the red in the first half of 2020. However, experts warn that many furloughed jobs could become permanently redundant when the scheme ends. M&S said the plans came after seeing a "material shift" in trade. Sky News reported that the company has now started consultations over 800 jobs. No specific figure for redundancies was provided by the contractor, but it according to the most recent published accounts the company had 2,132 staff, so 5pc would amount to around 100 roles, according to industry website Construction News. Furniture retailer Harveys has collapsed into administration, putting around 1,330 jobs at risk. But job losses, and bleak prospects for rehiring or expansion, arenât evenly distributed across industries, or groups of workers. Lloyds Banking Group will begin shedding the roles from November, although the cuts will be partially offset by the creation of 226 new jobs. The company said the cost-cutting scheme would incur a one-off cost of £20m but would help it save £35m a year. Bosses will swing the axe hardest at their Italian-American Frankie and Benny’s division, with up to 3,000 jobs at risk. The Evening Standard is to cut 115 jobs, a third of its staff, as the London newspaper seeks to cut costs to survive the coronavirus pandemic, which has hit its advertising revenues. The company has not confirmed how many extra jobs have been lost. Meanwhile Debenhams’ relaunch as an online-only operation in March means 10,000 employees are set to lose their jobs, bringing an end to the chain’s 116 department stores. More than 9m jobs at more than 1m companies in Britain have been furloughed since the launch of the government’s wage subsidy scheme in March 2020. Administrator Deloitte has not announced any buyers for the company’s physical stores. Chief executive Robert Sinclair said: “We have held off looking at job losses for as long as possible, but sadly we are not immune from the devastating impact of this virus.”. LONDON (Reuters) - Like thousands of employers in Britain, Alison Griffin fears she could soon have to ⦠Up to 1,200 jobs are set to be lost after Azzuri Group, owner of the chains Zizzi and Ask Italian, said it would not reopen about 75 restaurants following the coronavirus pandemic. TM Lewin stores will disappear from the high street after it became the latest retailer to collapse into administration at the cost of 600 jobs. “The reality is that some tough decisions had to be made primarily around our digital teams,” she wrote in the memo. Recruiter Manpower UK has warned that job cuts among its own 1,800 staff are looming as Covid-19 shatters the employment market. Tens of thousands of people are being made redundant in the UK as the coronavirus pandemic stalls the economy. Renegotiated rents and 50 shop closures last year could not save Sir Philip Green’s Arcadia from collapsing into administration in November 2020, putting 13,000 jobs at risk during the pandemic. London City airport has said that it plans to cut some 239 jobs, equivalent to 35pc of staff, after the airport began a consultation as part of a major restructuring. 'Stress is making me sick': UK workers on losing their jobs to Covid, Covid job losses hitting young people hardest in UK, study finds, Pizza Hut confirms 29 UK restaurants to close, putting 450 jobs at risk, Fears for jobs grow as employers count cost of Sunak’s winter plan, Up to 200 workers could face redundancy at Ocado call centre, London City airport to make more than a third of staff redundant, UK's autumn Covid-19 redundancies could exceed 700,000, Pizza Hut to close 29 restaurants, putting 450 jobs at risk. The group said the immediate job cuts are 200 fewer than those previously announced due to changes made in response to Covid-19. Half of the FTSE 250-listed company’s 30,000 staff were furloughed during the lockdown as demand for building materials plunged. Luxury department store Selfridges is to axe 450 jobs, or 14pc of its workforce, as it warned the recovery from the Covid crisis will be slow. Ted Baker reportedly targeted 500 UK job cuts over the summer of 2020 as it grappled with the high street lockdown. If you are aware of any redundancies that are not included on our tracker, please fill in the form below and we will look into it. High street pharmacy chain Boots has said it plans to cut more than 4,000 UK jobs in a bid to mitigate the “significant impact” of Covid-19. Next came transport and ⦠Hundreds of roles are thought to be at risk in Northern Ireland, where Bombardier has 3,500 staff and is the country’s largest manufacturer, however the Canada-based company said the majority of redundancies will be in its home nation. Byron is one of many casual dining chains to fall on hard times during the coronavirus pandemic after struggling to obtain financial support through the Treasury’s emergency loan schemes. Around 300 staff across Arcadia's design, buying and retail divisions will join Asos but at least 2,500 retail jobs will be lost. But this time it’s different. The Newcastle engineering group expects to cut some 200 jobs after the coronvirus lockdown hit demand for its services. More than 900 staff at Cath Kidston lost their jobs after the retailer said in April that it was closing all 60 UK stores. Robin Hood Energy was acquired by British Gas in September after falling into debt and struggling with the onset of coronavirus. The Japanese car maker has announced that some 160 jobs at its Sunderland plant may be axed as part of a consultation. The Telegraph values your comments but kindly requests all posts are on topic, constructive and respectful. The boss of the UK's largest recruitment firm, Reed, has said he fears current trends suggest far more people are going to lose their jobs because of the coronavirus crisis. Chief executive Simon Peckham said there would be "relatively few" cuts to its UK workforce and most will be voluntary redundancies. It has 13,000 employees, with around 2,500 jobs under threat at the affected brands. We rely on advertising to help fund our award-winning journalism. Dyson is to shed 900 jobs due to the effects of the coronavirus pandemic. There are reports that Asos rival Boohoo is targeting the remainder of Arcadia’s brands, namely Dorothy Perkins, Burton and Wallis. We have never seen anything like Covid-19 in our lifetimes.”. Jet2 said it would have to axe nearly 500 staff – more than 100 pilots and about 380 cabin crew – due to the collapse in air travel. NatWest has said it will cut up to 550 jobs in bank branches and will close a major London office as it grapples to adapt to the post-Covid world. How many of these roles are in the UK is unknown. The partnership then announced another 1,500 head office redundancies in November 2020, saying the cuts would save it £50m as it chases £300m in annual savings by 2022. Nottingham-based Buzz Bingo announced the permanent closure of 26 sites, putting 573 jobs at risk. Specialist Leisure Group, owner of coach company Shearings, has collapsed into administration, putting around 2,400 jobs at risk. As a result, 1,100 jobs will be lost. Construction firm Kier has announced more UK job cuts as the financial impact of the coronavirus pandemic has reduced revenue and raised net debt. The redundancies, which represent almost a quarter of the airport’s workforce, come as passenger numbers fell 80pc in August. Manufacturer Johnson Matthey is cutting almost 10pc of its workforce, around 2,500 roles, as it battles the coronavirus downturn. shares. Covid-19: a turning point for UK jobs. LHG runs hotels under brands including Holiday Inn, Crowne Plaza and Hallmark. Daily Mail and General Trust (DMGT), which also owns MailOnline, Metro and the i, has begun consulting with staff over cuts to both editorial and commercial roles in its publishing division. With almost 1,000 UK job cuts and rocketing losses, Ted Baker’s shares have fallen 95pc over the pandemic. It is not known how many are in the UK. It also revealed 26-year veteran, finance director Patrick Lewis, the only member of the original founding family left at the chain, will step down at the end of 2020. UK unemployment is likely to reach 2.6 million in the middle of 2021, according to the government's economic watchdog, the Office for Budget Responsibility (OBR). Pizza Express â 1,100 job losses. In October outlined plans to close all of its screens in the UK, putting some 5,500 jobs in the UK at risk. We urge you to turn off your ad blocker for The Telegraph website so that you can continue to access our quality content in the future. The British brand has been hit hard by the pandemic, which arrived as it was trying to simplify its structure anyway to combat sliding profits. Job furlough scheme fails to stop 314,000 people losing job in three months to September Published: 10 Nov 2020 UK redundancies hit record before second Covid lockdown The lingerie retailer, which operates 25 stores in the UK, confirmed that it has called in administrators from Deloitte after being hammered by the coronavirus lockdown. It had previously been looking to reduce costs by £65m by next June, the majority of which comes from cutting 1,200 jobs. ... accounting for over a third of UK job losses. Luggage retailer Antler fell into administration in May, cutting 164 UK jobs of a 199-strong workforce. Aston Martin is preparing to cut 500 jobs as the carmaker restructures under its new management. He lost out to Dame Sharon White for the chairman role earlier this year. At least 200,000 jobs disappear as Covid-19 pandemic takes toll on corporate Britain. John Lewis will permanently close eight of its department stores, making up to 1,300 UK job cuts. While the UK’s number of redundancies is high, the number who have been furloughed is far higher. Europe's largest oil company has announced that it will be cutting some 9,000 jobs globally, amounting to around 10pc of its workforce. Royal Mail announced in June it would axe 2,000 jobs as the firm slashes costs and overhauls its management to fight back from a Covid profit slump. The retailer is taking aim at 800 store manager roles to slim down the business. It plans to ⦠BP will dispense with more than 10,000 jobs this year as low oil prices bite and the energy titan accelerates its switch to green power. Car dealership giant Pendragon has announced plans to cut 1,800 jobs as it looks to close stores and streamline its operations in the wake of the Covid-19 pandemic. Burger chain Byron is poised to fall into administration as it races to find a buyer who can stave off a collapse, with 1,200 UK jobs cuts likely. However the decision to close the branch was based on footfall in 2019, the bank said. Builders merchant Travis Perkins is cutting almost 10pc of its workforce as it battles the coronavirus downturn, amounting to some 2,500 jobs. It is not known how many roles were in the UK. The coronavirus job retention scheme has been extended to last until the end of March 2021, after the government made a last-minute U-turn to extend the wage subsidy scheme beyond its original deadline at the end of October 2020. The engineering giant has already suffered a blow from the grounding of its flawed 737 Max model, with the jet still not ready to fly after two fatal crashes. The Economist Group announced in May that it was laying off 90 employees, around 7pc of its total workforce, to address the drop in revenues caused by the Covid-19 pandemic. In total, some 209,684 British jobs have been lost or are at risk. Jaguar Land Rover plunged to a half-a-billion pound loss in the first three months of the year after sales fell by a third. TSB was accused of throwing staff “on the scrap heap” after it announced plans in September to axe another 164 branches and cut 969 jobs in a fresh blow to the battered high street. The Luxury bed maker is expected to cut around 230 jobs at its Plymouth factory after the operation was mothballed following the coronavirus outbreak. M&Co has confirmed plans to permanently close down 47 stores and axe 380 jobs as part of a major restructuring via a pre-pack administration deal to secure its long-term future. Bombardier is to axe 2,500 jobs as the aerospace industry reels from a collapse in flights worldwide. Below is a list of the companies that have axed jobs in the UK since the coronavirus crisis. The G4S branch has been harmed by the recent trend away from using notes and coins, which has accelerated during the coronavirus pandemic. But of the engineering firm’s 10,000 non-UK employees, only 3pc will be affected by the job cuts. More than 12,000 people in the UK are set to lose their jobs after a raft of firms announced cuts in the past 48 hours. Falling car sales and Covid-19 to blame for 83 job losses in Glenrothes, say German owners by Neil Henderson February 1 2021, 11.37am Updated: February 1 ⦠The firm has axed 422 people from its premium chauffeur service Tristar, documents show, and is considering further cuts to the parent company's backroom staff, according to an industry source. General Electric is to cut 369 jobs at its aircraft engine maintenance plant in south Wales. The company stated that reduced demand for its recruitment products as a result of coronavirus was the primary motivation behind the decision. The branches being cut include its outpost in the City of London, where footfall has plummeted due to finance workers continuing to work from home. The FTSE 250 company is pushing the cuts through as part of plans to lay off nearly one in three of its 15,000 workers. The wave of retail redundancies is growing as the pandemic accelerates the transition from high street shopping to online shopping. Bernard Looney, the company’s chief executive, told staff that 15pc of the firm’s global workforce is to be laid off following a collapse in the oil price that has left the industry reeling. The Covid pandemic has led to the loss of about 660,000 jobs in the UK's hospitality sector this year, the industry's trade body has told MPs. High street lender Virgin Money will go ahead with plans to shut or merge 52 branches and lay off 300 people after initially putting the overhaul on hold amid the Covid crisis. The statement came following the company's vow earlier this year to embrace green energy and slash its carbon emissions to net zero by 2050, in the latest sign of seismic changes sweeping the oil industry. Sushi has said it plans to cut 250 jobs and close down 19 restaurants as part of a company-wide restructure. While every effort has been made to include every redundancy we are aware of, the numbers listed will be an underestimate and will miss announcements from smaller companies. More than 1,900 jobs have been lost after the owner of Café Rouge and Bella Italia fell into administration leading to the permanent closure of 91 restaurants. Richard Partington, Thu 19 Nov 2020 05.02 EST Hotel group LHG announced in August that it plans to cut some 1,500 jobs from its workforce as the company looks to cut costs in response to the coronavirus crisis. The budget airline announced in May that it could cut up to 3,000 workers as it wrestled with the devastating impact of coronavirus. Passenger levels have fallen by 90pc since the beginning of lockdown, the airport operator, which also owns Stansted and East Midlands airports. The hotel chain has announced it expects half of its staff at the Adelphi Hotel to be made redundant due to a drop in demand following the Covid outbreak. The company, which makes jet engines for Boeing and Airbus, blamed the “unprecedented impact of Covid-19”. Retail giant Marks & Spencer has said it plans to cut around 7,000 jobs over the next three months across stores, regional management and its support centre. Robert Forrester, CEO, said: “The Covid crisis has driven an acceleration of technology uptake and we are embracing this trend to futureproof the business. Hays Travel owners John and Irene Hays said some of the 878 jobs at risk could be saved if the Government introduces “regional travel corridors” to the Spanish islands. The casino company Genting is to cut up to 1,642 jobs at clubs and hotels across the UK owing to Covid-19. So called "wholesale, retail and repair of motor vehicles" came in at 47.6 percent of job losses - or roughly two million jobs. Alexander Dennis Limited (ADL), Britain’s largest bus maker, announced that the significant decline in UK demand for new buses and coaches had forced it to initiate a restructuring programme which places up to 650 jobs at risk. Another 162 people lost their jobs due to postponed or abandoned projects as a result of the coronavirus crisis. Boss Stewart Wingate said: “If anyone is in any doubt about the devastating impact Covid-19 has had on the aviation and travel industry then today’s news we have shared with our staff, regarding the proposed job losses, is a stark reminder.”. Reported interest from Boohoo for Burton, Dorothy Perkins and Wallis s is also likely to only be for their stock and websites. The British arm of the bakery chain Le Pain Quotidien was sold in a pre-pack deal that cost 200 jobs. Airport ground handling company Swissport is planning to cut more than 4,500 jobs in the UK due to the collapse in air travel. Even everybody’s favourite high street baker has warned of possible redundancies, telling investors it predicts demand will remain low for the “foreseeable future” despite a partial recovery in sales by October. These come after the retailer announced 2,500 UK job cuts in 2020. However, it has since stated that it now expects to make fewer cuts. As we progress through the pandemic, tens of thousands of people are being made redundant. Arcadia fell into administration at the start of December under the weight of £750m in debts. Premier Inn owner Whitbread has said it will axe as many as 6,000 jobs, with most cuts coming in its hotel arm and a significant proportion expected to be voluntary redundancies. Arsenal announced plans to make 55 members of staff redundant due to the impact of the coronavirus pandemic. Covid-19: Christmas plans, job losses and cash 'under threat' Published 28 October 2020. Ryanair has also warned it may cut 3,000 jobs as it wrestles with the devastating impact of coronavirus, however most of these will be in Ireland. As a result of the coronavirus (COVID-19) pandemic, the global travel and tourism market is predicted to see a loss of 100.8 million jobs worldwide in 2020. Tens of thousands of people are being made redundant in the UK as the coronavirus pandemic stalls the economy. Woking-based supercar and Formula 1 racing business McLaren announced in May that more than a quarter of its workforce, around 1,200 jobs, will be slashed. The Trafford-based company has announced that around 480 jobs will go after two of its businesses went into administration. Will leave the chain with just 160 outlets chains Beefeater and Brewers Fayre, said the cost-cutting would. Slash 900 corporate roles, which makes jet engines for Boeing and Airbus, blamed the “ impact. 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