The state of the UK

[Scot Dutchy]

Even the household silver is being flogged.

UK tech giant Arm Holdings to be sold to US company Nvidia in $40bn deal

Chip designer’s co-founder says deal is an ‘absolute disaster’ that will lead to UK job losses

One of Britain’s most successful tech companies, Arm Holdings, is being sold by its Japanese owners for $40bn (£31m) in a deal that could reshape the semiconductor landscape.

Nvidia, a US company, will pay SoftBank $21.5bn in shares and $12bn in cash for the chip designer, although the deal is still subject to regulatory approval in the UK and could face opposition from its new owners’ rivals.

It is expected that Nvidia will face tough conditions on protecting jobs and the status of Arm’s headquarters in Cambridge as part of the deal.

Arm co-founder Hermann Hauser described the takeover as an “absolute disaster” and said it would destroy the company’s business model and lead to job losses at its Cambridge headquarters and elsewhere in the UK.

Speaking on BBC Radio 4 on Monday morning, he said any promises made on jobs were “meaningless unless they are legally enforceable”, pointing to the takeover of Cadbury by US company Kraft in 2010.

[laklak]

It's a Japanese company.

[JimC]

For global corporate entities, it's increasingly unimportant as to which nation they nominally hail from...

[Brian Peacock]

That's Capitalism!

[Svartalf]

capitalism hold fealty to neither god nor homeland, it's fundamentally evil and ought to be disposed of.

[pErvinalia]

For global corporate entities, it's increasingly unimportant as to which nation they nominally hail from...

It's important to Scot when he's dumping no the UK.

[Scot Dutchy]

UK redundancies rise at fastest rate since 2009 amid Covid crisis

Almost 700,000 people have left company payrolls since March, many young workers

The number of redundancies in Britain has accelerated at the fastest pace since the financial crisis as the economic fallout from the coronavirus pandemic triggers rising levels of unemployment.

Against a backdrop of mounting concern over a jobs crisis this autumn as the government’s furlough scheme comes to an end, the Office for National Statistics (ONS) said 156,000 people were made redundant in the three months to July. This is an increase of 48,000 from the three months to the end of May, and the sharpest quarterly rise since 2009.

In a sign of the damage as Britain’s economy plunged into the deepest recession since modern records began during the coronavirus lockdown, the ONS said early indicators from HMRC showed 695,000 workers have dropped from company payrolls since the onset of the pandemic in March, with the brunt of the jobs crisis being borne by younger workers.

Obviously everything going to plan.

[rainbow]

Obviously everything going to plan.

The future of KLM, Transavia, and NS

On Friday, July 31, airline company KLM announced it was planning between 4.000 and 5.000 redundancies as a result of the coronavirus pandemic. Up to 5.000 people working in the Netherlands will lose their jobs. The airline opened a voluntary departure scheme for all staff in an attempt to avoid forced layoffs as much as possible. 2.400 employees have registered for the scheme.

Transavia, daughter company to KLM, also fell under these planned redundancies, and therefore its staff of 2.600 people were also eligible to apply for the voluntary departure scheme. It was revealed this week that only 42 Transavia employees had registered for the scheme. A spokesperson for the airline told NU.nl that KLM was preparing to restructure the company in an attempt to save it.

Back on land, Dutch national train company Nederlandse Spoorwegen (NS) revealed in June that financial cuts will put 2.300 jobs at risk over the coming five years. NS, the largest rail transport operator in the Netherlands, is facing cuts of up to 1,4 billion euros.

Does this mean that the Dutch king will join the dole queue?

[pErvinalia]

UK redundancies rise at fastest rate since 2009 amid Covid crisis

Almost 700,000 people have left company payrolls since March, many young workers

The number of redundancies in Britain has accelerated at the fastest pace since the financial crisis as the economic fallout from the coronavirus pandemic triggers rising levels of unemployment.

Against a backdrop of mounting concern over a jobs crisis this autumn as the government’s furlough scheme comes to an end, the Office for National Statistics (ONS) said 156,000 people were made redundant in the three months to July. This is an increase of 48,000 from the three months to the end of May, and the sharpest quarterly rise since 2009.

In a sign of the damage as Britain’s economy plunged into the deepest recession since modern records began during the coronavirus lockdown, the ONS said early indicators from HMRC showed 695,000 workers have dropped from company payrolls since the onset of the pandemic in March, with the brunt of the jobs crisis being borne by younger workers.

Obviously everything going to plan.

If you can believe the fairy data.

[laklak]

That's Capitalism!

No, that's numberwang!

[Brian Peacock]

[Sean Hayden]

[Scot Dutchy]

Obviously everything going to plan.

The future of KLM, Transavia, and NS

On Friday, July 31, airline company KLM announced it was planning between 4.000 and 5.000 redundancies as a result of the coronavirus pandemic. Up to 5.000 people working in the Netherlands will lose their jobs. The airline opened a voluntary departure scheme for all staff in an attempt to avoid forced layoffs as much as possible. 2.400 employees have registered for the scheme.

Transavia, daughter company to KLM, also fell under these planned redundancies, and therefore its staff of 2.600 people were also eligible to apply for the voluntary departure scheme. It was revealed this week that only 42 Transavia employees had registered for the scheme. A spokesperson for the airline told NU.nl that KLM was preparing to restructure the company in an attempt to save it.

Back on land, Dutch national train company Nederlandse Spoorwegen (NS) revealed in June that financial cuts will put 2.300 jobs at risk over the coming five years. NS, the largest rail transport operator in the Netherlands, is facing cuts of up to 1,4 billion euros.

Does this mean that the Dutch king will join the dole queue?

Really is quite amazing. A guy who cant say where he lives attacking a country that is so rich it can protect its people.

[Brian Peacock]

My dad's country can beat your dad's country.

[Hermit]

My dad's country can beat your dad's country.

Well, as of March this year the Netherlands are ranked the sixth happiest country in the world. Only in Finland, Denmark, Switzerland, Iceland and Norway are people happier. That means it is ahead of the UK!

This is puzzling. How did they make it that far up the ranking if Scott Dutchy is an example of happy Netherlanders?