Monday, September 13, 2010

All in it together ?

Bonuses for some :

Executive bonuses are close to their level before the financial crisis, a survey by business advisory firm Deloitte says.

It found that the average bonuses for directors of FTSE 100 firms amounted to 100% of their basic salary, rising to 140% in the top 30 public companies.

For others, not time to break out the bollie :

Almost 45,000 town hall jobs are to be cut across the country as councils brace themselves for a savage government squeeze on their budgets.

Analysis by The Independent has identified tens of thousands of local authority posts that will be scrapped – with jobs working with the elderly and with unemployed young people particularly at risk.

Councils across the country are drawing up plans to trim their spending by between 25 and 30 per cent over the next four years, reductions that will lead to a huge number of redundancies among the two million local government workers.

In the past week alone, 1,500 redundancies have been announced at Somerset County Council and 200 at Bedford Borough Council, while unions have warned that 1,000 posts are about to be axed by Bristol City Council.

The leader of Oxfordshire County Council yesterday warned that it could have to shed 1,000 jobs.

The Independent has identified 50 councils, from the south coast of England to the north-east of Scotland, where more than 40,000 jobs are being cut. A further 3,500 posts in Connexions, a service run by local authorities to give careers advice to teenagers, are about to be scrapped.

With many of the country's 400 local authorities only beginning to draw up budget plans, between 100,000 and 200,000 jobs could eventually be lost in councils. Some losses will be achieved through voluntary redundancies and retirement, but widespread sackings are certain.