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WHAT HAPPENED ON 18th September 1996?
17th September 1996
SHARE PRICES
| SHARECHEC | K (ITs)17:30 |
| Allianc 2255 +10 | MercEur 107¼+ ¼ |
| Anglo&O 496 + 2 | MercWld 100½- ½ |
| Bankers 225½- 1 | MonksIT 618½+ 2½ |
| British 233½+ 2 | MurrInt 419½+ 3½ |
| Edinbur 339½+ ½ | RIT Cap 250½+ 2 |
| Electra 408½+ 1½ | Scot Am 176 + ½ |
| F&C 158½- ¼ | Scot Ea 102 + ¼ |
| F&C Pac 187 | Scot IT 276½- ½ |
| Fle FE 312½+ 1 | ScotM&T 278½+ ½ |
| Fle Jap 251½+ 6½ | Sec All 2052½+11½ |
| FleMerc 341½+ 2 | TR City 169 + ¼ |
| Fle O/s 337½+ ½ | TR SmCo 229½+ ½ |
| Gov Ori 192 + 3 | Temp Em 137 + ½ |
| Gov Str 341½+ 2 3i 478½+ 1½ | |
| KleiEur 96¾+ ½ | WitanIT 270½ |
| NBAll prices are mid-prices | |
| Popular Shares | Options Weather |
18th September 1996
British Airways is to cut 5 000 jobs
during the next 18 months to cut costs by £1bn. British Airways made a record profit of #585m last year but the company says the cuts are essential for it to remain competitive in a fierce market place. The announcement means the airline will cut its 49 000 strong workforce by 5 000 over the next 18 months. The job losses will be in ground services like baggage handling which will be sub-contracted.
18th September 1996
British Airways is to cut 5 000 jobs
during the next 18 months to cut costs by £1bn. British Airways says it hopes voluntary redundancy & early retirement will account for most of the cuts. The airline has also said it hopes to increase its numbers of employees in other areas such as cabin staff in preparation for a service expansion. By the end of the three-year restructuring the BA workforce could be back at today's level.
17th September 1996
FINANCIAL RESULTS
Sears
(Stores
etc)
Interim: 1.05p (same)
EPS: 1.4p (1.2p)
Pre-tax profit: £2.5m (£29.9m)
Exceptional debit: £25.5m (nil)
*The company says retail like-for-like
sales are up by 10%
reflecting further
growth at Selfridges & a strong brand
performance in womenswear. In footwear
like-for-like sales in the second half
to date are up by 3%.
Market forecast£26m-£27m
18th September 1996
British Airways is to cut 5 000 jobs
during the next 18 months to cut costs by £1bn. British Airways made a record profit of #585m last year but the company says the cuts are essential for it to remain competitive in a fierce market place. The announcement means the airline will cut its 49 000 strong workforce by 5 000 over the next 18 months. The job losses will be in ground services like baggage handling which will be sub-contracted.
18th September 1996
UNION HEAD CRITICISES BA JOB CUTS PLAN
British Airways plans to cut 5 000 jobs have been attacked by a union leader. Sean Keating of the GMB general union said he was extremely concerned at the scale of the planned redundancies. Mr Keating said BA was an extremely profitable & successful company & he wanted management to ensure the "change is by consent." Other unions including the Pilots' Association are waiting for talks with bosses before deciding their next move.
17th September 1996
BA BOOSTS CORPORATE
IMAGE BY £60m British Airways plans to spend £60m on a logo in an effort to improve its corporate image. "Corporate identity changes from time to time & you have got to keep it fresh " said a BA spokesman. "We are continually monitoring our image which is very important for us " he added. While spending £60m on a new logo BA is said to be planning to shed 10 000 jobs as it aims for a profit target of #1bn by the year 2000.
18th September 1996
British Airways is to cut 5 000 jobs
during the next 18 months to cut costs by £1bn. British Airways made a record profit of #585m last year but the company says the cuts are essential for it to remain competitive in a fierce market place. The announcement means the airline will cut its 49 000 strong workforce by 5 000 over the next 18 months. The job losses will be in ground services like baggage handling which will be sub-contracted.
18th September 1996
British Airways is to cut 5 000 jobs
during the next 18 months to cut costs by £1bn. British Airways says it hopes voluntary redundancy & early retirement will account for most of the cuts. The airline has also said it hopes to increase its numbers of employees in other areas such as cabin staff in preparation for a service expansion. By the end of the three-year restructuring the BA workforce could be back at today's level.
