Socialist Worker

Shares in pain

Issue No. 1673

TWO LEADING banks announced last week that they were sacking hundreds of workers. Shares in both Barclays and Northern Rock shot up on news of the job cuts. Some 250 Northern Rock workers and 500 Barclays workers face the misery and fear of unemployment in the run up to Xmas. Shareholders will get an Xmas bonus. In the same week Britain's fifth biggest supermarket, Somerfield, said it will sell 100 to 140 of its larger shops. It has already hived off 350 Kwik Save stores.

Click here to subscribe to our daily morning email newsletter 'Breakfast in red'

Article information

Sat 20 Nov 1999, 00:00 GMT
Issue No. 1673
Share this article


Mobile users! Don't forget to add Socialist Worker to your home screen.