Redundancies

[Pedro de la Rosa]

Re: Redundancies

No it’s not right.
Makes me feel old when I look at where salaries have got to though. I remember starting out as a grad and getting to £25k was decent!

Salaries haven't increased though, they've almost completely plateaued. Grads are still getting 25k

[Wales-Bales]

Re: Redundancies

Best job ever, just whack the papers through the letterbox, great tips at Christmas and you see some sights in the morning round :thumbup:

I had a milk round and a paper round when I was at school, and I never knew what to do with all the money when Christmas came around.

[Bozza64]

Re: Redundancies

I have heard they are making redundancies in my works im 61 so will probably be on the list

[Taunton Blue Genie]

Re: Redundancies

I have heard they are making redundancies in my works im 61 so will probably be on the list

The Dead Wood Stage?

[BLUETIT]

Re: Redundancies

The Dead Wood Stage?

Alright Doris

[J R Hartley]

Re: Redundancies

Staff costs have increased, through increased minimum wage, and employers' national insurance contributions it was always going to happen.

It costs a business £29,824.90 to employ someone on the minimum wage if you include National Insurance and employers pension contributions.

Peanuts to what they get in return. Tesco employ plenty of minimum wage staff and I’m pretty sure they will be putting up their prices so their huge profits don’t take a hit.

[Eric the Half a Bee]

Re: Redundancies

Apparently 45 hours yes.

Cost of Employing Someone in the UK (45 hours per week, National Minimum Wage, April 2024 - March 2025)
1️⃣ National Minimum Wage
Hourly Rate: £11.44

Weekly Wage: 45 hours × £11.44 = £514.80

Annual Wage (52 weeks): £514.80 × 52 = £26,769.60

2️⃣ Employer’s National Insurance Contributions (NICs)
NICs are 13.8% on earnings above £9,100 per year

Taxable salary for NICs: £26,769.60 - £9,100 = £17,669.60

Employer NICs: £17,669.60 × 13.8% = £2,439.41

3️⃣ Employer’s Pension Contributions (Auto-Enrolment)
Employers must contribute at least 3% on earnings above £6,240

Taxable salary for pension: £26,769.60 - £6,240 = £20,529.60

Pension contribution: £20,529.60 × 3% = £615.89

4️⃣ Total Employer Cost Per Year
Salary: £26,769.60

Employer NI: £2,439.41

Pension Contributions: £615.89

Total Cost: £29,824.90

5️⃣ Total Employer Cost Per Week
£29,824.90 ÷ 52 = £573.56

Final Summary:
Annual Cost: ~£29,825

Weekly Cost: ~£573.56

This estimate excludes additional costs like sick pay, training, insurance, or other benefits.

You missed out what the government pays out in universal credit to people on minimum wage jobs. Most people on that are working, many full time. If you look at universal credit (tax credits before etc), they're basically a government subsidy to companies so they don't have to pay them a living wage.

[North Cardiff Blue]

Re: Redundancies

Peanuts to what they get in return. Tesco employ plenty of minimum wage staff and I’m pretty sure they will be putting up their prices so their huge profits don’t take a hit.

True, so inflation rises again, base rates stay higher for longer, and more people coming out of long low-priced fixed-rate deals feel the pinch, spend less, so less growth and it continues. Also, Government debt repayment costs increase, so the government needs more cuts in the next budget, after the cuts in the spring statement.

[J R Hartley]

Re: Redundancies

Don’t think it’s got anything to do with AI and more to do with companies not wanting their profits taking a hit.

Making 10 of 150 staff redundant with us because our boss doesn’t want his profits taking a hit. Putting the prices up too so no doubt we will see a spike in inflation again as companies are not going to take this hit themselves.

The extra the government will get in NI contribution plus taxation from the minimum wage increase they will no doubt lose and more in the large number of people losing their jobs and needing benefits. Idiotic move from the government.

The Tories or Starners Labour. What a time to be alive.

[Wales-Bales]

Re: Redundancies

True, so inflation rises again, base rates stay higher for longer, and more people coming out of long low-priced fixed-rate deals feel the pinch, spend less, so less growth and it continues. Also, Government debt repayment costs increase, so the government needs more cuts in the next budget, after the cuts in the spring statement.

The annoying part is that's the intended outcome.

[jon1959]

Re: Redundancies

You missed out what the government pays out in universal credit to people on minimum wage jobs. Most people on that are working, many full time. If you look at universal credit (tax credits before etc), they're basically a government subsidy to companies so they don't have to pay them a living wage.

Exactly. Public subsidy of private profit.

[Eric the Half a Bee]

Re: Redundancies

Don’t think it’s got anything to do with AI and more to do with companies not wanting their profits taking a hit.

Making 10 of 150 staff redundant with us because our boss doesn’t want his profits taking a hit. Putting the prices up too so no doubt we will see a spike in inflation again as companies are not going to take this hit themselves.

The extra the government will get in NI contribution plus taxation from the minimum wage increase they will no doubt lose and more in the large number of people losing their jobs and needing benefits. Idiotic move from the government.

The Tories or Starners Labour. What a time to be alive.

With Farage waiting in the wings for when they both become unpopular. Not one single one of them interested in helping the working classes and all are guilty of getting people to argue about who gets the crumbs that fall from the big table of the most wealthy.

[Taunton Blue Genie]

Re: Redundancies

Alright Doris

Every Doris has her day...

[J R Hartley]

Re: Redundancies

With Farage waiting in the wings for when they both become unpopular. Not one single one of them interested in helping the working classes and all are guilty of getting people to argue about who gets the crumbs that fall from the big table of the most wealthy.

Its a race to the bottom for the working class and Rachel Reeves has just put her foot to the metal.

[2b2bdoo]

Re: Redundancies

Yes my whole department was made redundant, nearly 50 people gone, people of all levels and pay grades.

Luckily for me there were 4 jobs and I got one of them but so sad to see people go, so many good people who had worked for the firm for over 20 years, some 30 years and now trying to find a new job, trying to adapt when all they have known is this job.