Fear of redundancy has spread to almost half of full-time workers including those in the marketing industry, despite the Government’s latest multi-billion economic rescue package.
The Government bailout has sent bank share prices tumbling as 49 per cent of workers said in an Ipsos Mori Survey that they were worried the recession would force them out of their jobs within the next 12 months.
Burberry today became the latest high fashion brand to feel the pinch, announcing the closure of a sewing facility in Rotherham, South Yorkshire, with the loss of 290 jobs.
The company said today that there will be another 250 redundancies at its Spanish operations, bringing the total job cuts to 540 staff.
Earlier this month, the industry's largest holding company, Omnicom Group, announced it was to layoff of nearly five per cent of its global work force of 70,000.
Also this month, Grey London confirmed the Grey Global Group agency will shed up to 18 jobs, about eight per cent of staff, due to the loss of the global Masterfoods account.
Struggling fast-food chain McDonald’s has also slashed jobs, laying off more than 600 workers as the home of the Big Mac plans to close 175 stores across the globe in a bid to cut costs.
Internet giant AOL has also felt the crunch, laying off 133 jobs in Latin America, most of which were at the company’s headquarters.
Regional publisher Johnston Press has also recently announced plans to restructure the advertising departments within its Midlands division, resulting in the loss of up to 18 commercial jobs.
So far this year, more than 100,000 jobs have gone, with more than 21,000 losses being revealed last Friday alone.
Companies from finance, to manufacturing, technology, the media, retailing, cars, commodities and mining and health care revealed cuts, or plans to trim their employment levels.
More than 20 companies have said that they were to cut jobs in 2009, ranging from Romania's second-biggest fertilizer maker, to Fiat's Magneti Marelli auto-parts division, Hertz, the second-largest US rental-car company, Clear Channel, the big US radio group, WellPoint, a health care insurer, oil refiner, ConocoPhillips, Advanced Micro, the computer chip group and General Electric.
Honda, Toyota, Scania and other car groups cut jobs last week and revealed plans for big car and truck production cuts in the next three months.
Has your job been affected by the crunch? Tell us below how you feel about your job in 2009.