Why is the UK at the forefront of AI-driven job cuts?
AI-linked job losses in the UK are running at twice the rate of US and Germany.
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AI-linked job losses in the UK are running at twice the rate of US and Germany.
Volvo plunged by about 30% to a record low after the Swedish automaker’s chief executive officer said the market for Western-developed cars in China is disappearing fast, prompting it to cut 2,500 more jobs. Luxury powerhouses including Hermès and Cartier are suffering steeper slumps in China, in a sign that a spending pullback by the country’s wealthy consumers is hitting even the most resilient brands. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie. (Source: Bloomberg)
Barclays said it’s cutting 5,000 jobs as part of an effort to reduce costs, adding that artificial intelligence is starting to create efficiency. That would affect about 5% of the bank’s employees, according to a presentation on Thursday. Barclays employed about 93,000 people globally at the end of 2025. Stocks fell as megacap earnings failed to reassure investors about the rebound in the artificial intelligence trade, Chinese equities neared a bear market and escalating Middle East tensions drove oil prices higher. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie. (Source: Bloomberg)
The BBC announced more than 100 job cuts and the closure of two channels Tuesday as the cash-strapped UK broadcaster aims to save £500 million (US$668 million) over the next two years. BBC News announced the “net closure of just over 100 roles”, according to an internal note by director Rachel Jupp, part of some 2,000 job cuts the broader organisation is eyeing to achieve its planned savings. The job cuts represent £5.5 million in savings, said Jupp. She was appointed BBC News’ director this...
Anastasia Amoroso, Chief Investment Strategist of Partners Group, joins Bloomberg's Vonnie Quinn on "Bloomberg Brief" to discuss the US Challenger September job cuts data along with the rise of yields. (Source: Bloomberg)
Radiant World is cutting staff beyond its core iron ore business after a Singapore court last week took control of the troubled commodity trader away from its founder.