Capital To Lose 10,500 Jobs
12th December 2017.
London is at risk of losing 10,500 jobs to international employers as a fifth of UK financial businesses confirm their plans to open hubs abroad or relocate staff once the UK leaves the EU.
Double the amount of companies now plan on moving jobs post-Brexit compared to this time a year ago, according to accountant EY.
Furthermore, the report warns that “many” of the 10,500 roles set to go will be client-facing, front-office jobs and not the back office roles originally expected.
This estimate comes days after the European Commission announced that the UK Prime Minister, Theresa May, had made a ‘breakthrough’ deal with Brussels, allowing discussions to move on to trade.
May has until May 2019 to strike a sufficient deal with the EU, but increasing numbers of firms are threatening to jump ship if a trade agreement isn’t tabled by early next year.
Many UK financial businesses have already started to disperse, with Goldman Sachs’ boss Lloyd Blankfein already announcing plans to split its business between Paris and Frankfurt; halting all further business in London on account of Brexit.
The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!
See all our latest news here!
Keep up to date with the latest news by following us on social media:-
CPA on Linkedin
CPA on facebook
CPA on twitter
Watch the video to find out how CPA can help you!
How to overcome 25 of the most common excuses for non-payment
Click the image to discover step by step advice on how to deal with them!
Discover how to improve your cashflow in 3 steps.
Click the image to find our answer to the question “How can you get paid on time?”
Read our blog – Debt collection agency
Read about our overdue account recovery service
Read our blog – What is credit management?
Read our blog -What is a credit management company?