Latest news with #wagebill
The Sun
11-07-2025
- Business
- The Sun
Huge British institution slashes 550 jobs in bid to save cash after Rachel Reeves' brutal tax hikes
THE National Trust is planning to cut around 550 jobs as part of efforts to slash its wage bill after grappling with cost pressures including increased national insurance contributions. The conservation charity said rising costs were outstripping growth in visitors and donations. It told staff it wanted to reduce its pay bill and find savings worth £26 million. The proposals are set to lead to an estimated 6% reduction in jobs across its workforce – which, at the end of February, amounted to 9,575 people. This is expected to amount to at least 550 full-time roles. The charity has begun a 45-day consultation period with its staff. Recent increases to employer national insurance contributions and the national minimum wage have added more than £10 million to its annual wage bill, the charity said. The tax hike was a central tenet of Chancellor Rachel Reeves' autumn Budget, to raise billions of pounds for the Treasury. But it has been met with fierce criticism among businesses affected, many of whom have said they would be forced to pass on the higher costs through job cuts or price rises for customers. The National Trust said in a statement: 'Although demand and support for our work are growing with yearly increases in visitors and donations, increasing costs are outstripping this growth. 'We know how difficult this is for our people and are incredibly grateful for their skill and professionalism. 'We are working hard, with the union Prospect, to make the transition as painless as possible. 'This follows months of other cost-saving measures. We always want to avoid job losses.' River Island confirms which 33 stores are shutting as a further 70 at risk in huge shake-up – is your local going? The charity stressed that the proposed changes will enable it to 'keep on caring for and championing our shared historic and natural environment in England, Wales and Northern Ireland, long into the future'. Steve Thomas, deputy general secretary of trade union Prospect, said the proposed cuts will bring 'huge uncertainty and worry for staff'. 'We understand the cost pressures the trust is facing but management decisions, as well as external factors, have contributed to the financial situation and once again it is our members who will have to pay the price,' he said. 'Our members are custodians of the country's cultural, historic and natural heritage – cuts of this scale risk losing institutional knowledge and skills which are vital to that mission. 'Prospect will be working with National Trust to try to minimise the negative impact of these cuts on both workers and on the operation of the trust.' The National Trust was founded more than 125 years ago, and looks after protected areas across the UK's coastline, historic sites and green spaces. In its most recent annual report, published in September last year, it revealed that total visitor numbers rose by 5% to about 25 million for the 2023/24 financial year, compared with the previous year. There was an even higher jump in non-members visiting the sites – those who pay on the door for individual trips – with a 12% year-on-year rise. The charity said it was noticing a shift with more people opting for single-entry tickets rather than taking out memberships – reflecting 'tactical' spending decisions amid cost-of-living pressures. 2
Yahoo
11-07-2025
- Business
- Yahoo
National Trust to cut 550 staff in bid to slash wage bill following tax hikes
The National Trust is planning to cut around 550 jobs as part of efforts to slash its wage bill after grappling with cost pressures including increased national insurance contributions. The conservation charity said rising costs were outstripping growth in visitors and donations. It told staff it wanted to reduce its pay bill and find savings worth £26 million. The proposals are set to lead to an estimated 6% reduction in jobs across its workforce – which, at the end of February, amounted to 9,575 people. This is expected to amount to at least 550 full-time roles. Recent increases to employer national insurance contributions and the national minimum wage have added more than £10 million to its annual wage bill, the charity said. The tax hike was a central tenet of Chancellor Rachel Reeves' autumn Budget, to raise billions of pounds for the Treasury. But it has been met with fierce criticism among businesses affected, many of whom have said they would be forced to pass on the higher costs through job cuts or price rises for customers. The National Trust said in a statement: 'Although demand and support for our work are growing with yearly increases in visitors and donations, increasing costs are outstripping this growth. 'We know how difficult this is for our people and are incredibly grateful for their skill and professionalism. 'We are working hard, with the union Prospect, to make the transition as painless as possible. 'This follows months of other cost-saving measures. We always want to avoid job losses.' The charity stressed that the proposed changes will enable it to 'keep on caring for and championing our shared historic and natural environment in England, Wales and Northern Ireland, long into the future'.
The Independent
11-07-2025
- Business
- The Independent
National Trust to cut 550 staff in bid to slash wage bill following tax hikes
The National Trust is planning to cut around 550 jobs as part of efforts to slash its wage bill after grappling with cost pressures including increased national insurance contributions. The conservation charity said rising costs were outstripping growth in visitors and donations. It told staff it wanted to reduce its pay bill and find savings worth £26 million. The proposals are set to lead to an estimated 6% reduction in jobs across its workforce – which, at the end of February, amounted to 9,575 people. This is expected to amount to at least 550 full-time roles. Recent increases to employer national insurance contributions and the national minimum wage have added more than £10 million to its annual wage bill, the charity said. The tax hike was a central tenet of Chancellor Rachel Reeves' autumn Budget, to raise billions of pounds for the Treasury. But it has been met with fierce criticism among businesses affected, many of whom have said they would be forced to pass on the higher costs through job cuts or price rises for customers. The National Trust said in a statement: 'Although demand and support for our work are growing with yearly increases in visitors and donations, increasing costs are outstripping this growth. 'We know how difficult this is for our people and are incredibly grateful for their skill and professionalism. 'We are working hard, with the union Prospect, to make the transition as painless as possible. 'This follows months of other cost-saving measures. We always want to avoid job losses.' The charity stressed that the proposed changes will enable it to 'keep on caring for and championing our shared historic and natural environment in England, Wales and Northern Ireland, long into the future'.
Yahoo
28-06-2025
- Business
- Yahoo
Marc-Andre Ter Stegen sets demands for Barcelona exit
Barcelona need to reduce their wage bill in order to be able to register new signings, such as Joan Garcia, who has already joined, and Nico Williams, who is expected to make the move from Athletic Club as early as next week. And one candidate that could depart to help with this is Marc-Andre Ter Stegen. Due to the arrival of Garcia and the expected contract renewal of Wojciech Szczesny, Ter Stegen is expected to start next season as third-choice goalkeeper – despite being club captain. As such, he will have options to leave, and with the 2026 World Cup taking place next summer, he may wish to do so in order to ensure that he is Germany's starter for the tournament. Barcelona dealt blow in bid to offload Marc-Andre Ter Stegen But at this stage, Ter Stegen is very reluctant to leave, and he is said to be very angry with how things have played out in regards to his situation at Barcelona. On top of this, he has already turned down an offer from AS Monaco. However, he would entertain the possibility of departing, but as per Sport, he would only do so if he were to receive the final three years of his salary in full. Image viaAdvertisement It is clear that Barcelona will not find it easy to ensure a positive solution in this Ter Stegen saga. As one of the club's highest-paid players, his exit would be massive in terms of helping their financial problems, and also ensuring that Garcia and Williams will be registered in time for the start of the 2025-26 season kicking off in August. Barcelona are hoping that Ter Stegen's eases his demands in the coming weeks, but given his anger about the situation, that could be more hope than expectation. For now, it remains to be seen how this plays out.
RNZ News
12-06-2025
- Business
- RNZ News
Core public service agencies spend $420m on consultants, contractors in 9 months to March
The spend has fallen to 4.5 percent of the total wage bill of 38 core agencies. Photo: Unsplash New figures show core public service agencies spent $420 million on consultants and contractors in a nine-month period to March. The spend has fallen to just 4.5 percent of the total wage bill of 38 core agencies. The [ Public Service Commission] says this is the lowest since measurement began seven years ago. The Education Ministry was far and away the biggest spender for the nine months, shelling out $146m. The spending by the Ministry of Business, Innovation & Employment has plummeted from high levels several years ago, to just $24m; the Ministry of Social Development has dropped a lot, too, to $31m, though these two major ministries were still among the biggest spenders in the period to March 2025. Only the core agencies are counted for this, leaving out the likes of big spenders such as Defence and Police. Once those two, and all Crown entities and non-core departments are counted in, the total spend for the nine months was $1.22 billion, split half and half between capital and operating spending. Often, capital spending on contractors is tied up with IT upgrades, while operating spending is on recruitment firms to hire temp workers to plug holes. National pledged in the election to cut $400m a year in operational - not capital - spending on contractors by the end of the 2024-25 financial year - end of June - compared to 2022-23. Halfway there, at the end of 2023-24, it had dropped $274m. In the year to June 2024, the total spend was almost $1b and two years ago it was $1.2b. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
