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Next Boss Warns UK Policies Could Cut Entry-Level Jobs
Lord Simon Wolfson said applications for shop jobs have doubled in two years as Next cuts staff and adds automation.
- On yesterday, Lord Wolfson, chief executive of Next, warned the BBC of a 'dramatic fall' in entry-level job opportunities, noting applicants for shop vacancies doubled from 10 to 19 over two years.
- Government policies including higher employer National Insurance contributions and minimum wage rises pushed Next's annual wage bill up by £70m, while a planned zero-hours ban from next year will further complicate seasonal hiring.
- Youth unemployment for 16 to 24-year-olds stands at 16.2%, the highest since 2014 and more than triple the 5% general rate. Wolfson warned that 'if you've got fewer jobs, then the people who suffer the most are those with the least experience.'
- Wolfson warned Employment Rights Act restrictions will reduce holiday hours for students, saying 'that's going to be bad news for our colleagues who want extra hours, particularly students, and bad news for our customers because service won't be as good.' The Treasury countered with a £2.5bn youth employment package.
- Rather than targeting youth employment specifically, Wolfson called for planning, energy and transport reform to boost broader economic growth. Despite cost pressures, Next raised full-year profit expectations to £1.2bn after recording a 6.2% sales rise in the first quarter earlier this month.
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Next boss says 'dramatic' fall in entry-level roles could cause job market chaos — Lord Wolfson says fall highlights 'the crisis is in youth unemployment at the moment'
Next CEO criticizes government policies for making it costlier to employ entry-level workers, while retail stores employ more automation.
·United Kingdom
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The Droitwich Standard+2 Reposted by 2 other sources
Retail giant warns of growing struggle for young jobseekers – NATIONAL NEWS
The boss of high street retailer Next has warned that young people are finding it increasingly difficult to secure work, as businesses face rising costs and major changes to employment law. Lord Wolfson, chief executive of Next, said the number of applicants competing for shop jobs at the retailer has almost doubled over the past two years, highlighting what he described as a growing problem in youth employment. Speaking to the BBC, he said appl…
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Total News Sources19
Leaning Left2Leaning Right0Center6Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
L 25%
C 75%
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