#uk

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North Sea UK assets on sale and no takers

BP has finally realized that the UK North Sea sector is unsustainable and needs to divested and/or decommissioned. UK taxation authorities have made investment and upkeep untenable with a 78% tax rate. The asset condition are atrocious and will negatively impact BP permit to operate.
BP needs to to leave the UK while its easy.


Perella Weinberg Partners Reduces Staff, Acquires London Firm

Perella Weinberg Partners is reducing its workforce. The firm is cutting 10% of its staff, including 12 partners. This follows a 91% drop in net income during the first quarter. Concurrently, PWP is acquiring Gleacher Shacklock, a British bank. This acquisition will add up to eight senior bankers in London.

London, United Kingdom

https://www.efinancialcareers.com/news/pwp-cuts-tim-shacklock


Intuit Cuts 3,100 Roles in Restructuring

Intuit announced a 17% reduction in its full-time workforce. This cut affects approximately 3,100 positions. The restructuring is expected to incur $300 million to $340 million in charges. Intuit also reported strong fiscal third-quarter earnings and raised its full-year guidance.

https://qz.com/intuit-layoffs-workforce-reduction-ai-restructuring-052026


Gambling.com Group Stock Halved Following Layoffs, Q1 Loss

Gambling.com Group's stock price plummeted sharply. Its shares fell by 53% in a single day. This decline followed an announced cost-cutting program. The company plans to restructure and lay off 25% of its staff. First-quarter results showed a $1.17 million net loss and a 43% EBITDA decrease.

https://wnhub.io/news/hr/item-50863


Build a Rocket Boy Lays Off 170 Staff

Build a Rocket Boy recently laid off an undisclosed number of employees. Reports indicate 170 staff were affected, leaving around 80 remaining. This marks the third round of layoffs for the developer in the past year. Previous cuts included the closure of BARB France and 300 UK-based employees. The company is undertaking a "reset" for its game MindsEye after negative feedback.

https://www.gamesindustry.biz/build-a-rocket-boy-reportedly-hit-with-more-layoffs


Cut happening across the UK

The insurance business is undergoing a major overhaul

The projects with London Markets have been frozen / cancelled

Another relatively new logo is about to have a significant portion of their staff culled because apparently a year in they’re not making money…. Bullsh-t comes to mind

Just wait until they announce results - it’s
Not looking good.


Canon Middle East, Central & North Africa, UK & South Africa Layoffs

Canon Middle East, Central & North Africa, the UK, and South Africa are facing massive layoffs. After 13 years with the company, this is something I have never seen before. The new HQ leadership is pushing for maximum profit, and the result is a wave of layoffs across multiple regions.


HSBC Considers 20,000 Job Cuts Amid AI Overhaul

HSBC Holdings Plc is reportedly considering significant job cuts. Up to 20,000 roles could be eliminated over several years. This reduction is part of an AI-led overhaul strategy. Non-client facing roles in global service are expected to be most affected. No final decision has been made yet regarding these plans.

https://www.livemint.com/companies/news/hsbc-layoffs-soon-wall-street-giant-may-slash-20-000-roles-amid-ai-led-overhaul-says-report-11773883152084.html


No news in the UK

There has been nothing about layoffs in the UK yet, and I have heard nothing on the grapevine about anything in EMEA. It has NOT started.

Don't get me wrong, I want it to start, and I want to be on the list. Happy to take some cash and run.

I'm sure the storm is coming, but it is not here yet.


Any new business in the UK?

Was fortunate to get VR last year after 10 years of no pay rises and broken promises. The annual drudge of appraisals, getting feedback, self evaluation etc was mind numbing, knowing nothing would ever come out of it. My manager was worse than useless. A total waste of time who blagged and lied his way year after year. I know why people stay as it’s a cushy number and no one cares. Projects drag on and it’s amazing how clients put up with the incompetence. I’m just interested to know what actual accounts are still going in the UK. Not much on here is posted but in the last few town halls I attended there was always a ‘positive pipeline’ so just curious as to what current employees are actually working on - or more pertinent what codes are you booking time to for doing next to nothing? My last account was Defra which died a slow and painful death!


UK

Someone posted this in a different thread, it's worth exposing it here on the main page:

  • In the UK it's a legal requirement to make roles redundant, not people. However there are no formal job roles assigned, and having access immediately revoked and being escorted from the building is not commensurate with a "consultation". This is not legal, but just like the lack of WARN notices, they keep doing it.

RTO in European offices

Checking in on the global RTO rollout: I’d love to hear from colleagues in the UK and EU offices. Has your local leadership confirmed a specific Phase 2 start date yet or are local labor regulations still being navigated? It would be great to compare notes on how the transition is being handled outside the US hubs.


Bye Bye UK

https://news.sky.com/story/tpg-closes-in-on-1bn-plus-deal-for-gp-patient-records-system-supplier-13491127

TPG closes in on £1bn-plus deal for GP patient records system supplier
The buyout firm is close to buying Optum UK, which supplies the systems used by NHS doctors to manage patient records, from US giant UnitedHealth, Sky News learns.


Ireland & UK - office closures

Cork, Liverpool, Poole how are you doing? Any updates on when offices expect to close? Are any of you offered BAH contracts or relocation?

Wexford employees who are now BAH, did you get a new BAH contract where it says you may have to return to office or how is it working for you?


Even more UK gaming industry layoffs

As confirmed by parent company Thunderful Group, Coatsink will be losing around half of its total workforce, equating to 50-60 roles, all because of "a more challenging co-development market" and as "the business is currently unable to support all existing employees."

https://www.gamereactor.eu/coatsink-to-layoff-around-half-of-its-workforce-due-to-the-challenging-co-development-market-1640603/