Vertu Motors cuts jobs and closes showrooms on Sundays after …

7 hours ago · The country's third largest car retailer says it is cutting jobs and closing its dealerships on a Sunday as part of efforts to reduce costs amid tough trading and looming …

CouponFollow Extension

£10
OFF

Vertu Motors Axes Jobs And Shuts Showrooms On Sundays After …

2 weeks from now

8 hours ago · Car dealership Vertu Motors has blamed Budget cost hikes for job cuts and said it has been forced to shut showrooms on Sundays as it braces for a hit of around £10 million.

standard.co.uk

15%
OFF

Vertu Motors Axes Jobs And Shuts Showrooms On Sundays After …

2 weeks from now

7 hours ago · Vertu sees around 15% to 20% of its 7,500-strong workforce leave each year due to natural staff turnover. The group, which has 198 sites across the UK, said it was also shutting …

yahoo.com

£10
OFF

Vertu Motors Axes Jobs And Shuts Showrooms On Sundays After …

2 weeks from now

8 hours ago · Car dealership Vertu Motors has blamed Budget cost hikes for job cuts and said it has been forced to shut showrooms on Sundays as it braces for a hit of around £10 million. …

stratford-herald.com

15%
OFF

Vertu Motors Axes Jobs And Shuts Showrooms On Sundays… - Inkl

2 weeks from now

1 day ago · Vertu sees around 15% to 20% of its 7,500-strong workforce leave each year due to natural staff turnover. The group, which has 198 sites across the UK, said it was also shutting …

inkl.com

8%
OFF

Vertu Motors Braces For Lower Profits As New Car Sales ... - The Mirror

2 weeks from now

Sep 2, 2024 · The group, which has 192 showrooms and after-sales sites across the UK, reported a 5.8% drop in new car sales by volume in the five months leading up to July 31.

mirror.co.uk

£10
OFF

Vertu Motors Axes Jobs And Shuts Showrooms On Sundays After …

2 weeks from now

8 hours ago · Car dealership Vertu Motors has blamed Budget cost hikes for job cuts and said it has been forced to shut showrooms on Sundays as it braces for a hit of around £10 million. …

newsshopper.co.uk

FAQs about Vertu Motors cuts jobs and closes showrooms on Sundays after … Coupon?

What happened to Vertu Motors?

Vertu Motors axes jobs and shuts showrooms on Sundays after Budget blow - It warned it was facing around an extra £10 million in wage costs in its next financial year from the Budget measures. ...

How many jobs are being axed at Vertu?

It is understood the number of jobs being axed is minimal, but that the group will reduce roles by not replacing workers when they leave. Vertu sees around 15% to 20% of its 7,500-strong workforce leave each year due to natural staff turnover. ...

Why is Vertu shutting its showrooms?

Vertu sees around 15% to 20% of its 7,500-strong workforce leave each year due to natural staff turnover. The group, which has 198 sites across the UK, said it was also shutting most of its showrooms on Sunday for the first time as part of efforts to offset the cost impact. And it will merge its three brands under the Vertu banner. ...

Why did Vertu take a big hit?

The company said its bottom line had taken a big hit amid steep discounting industry wide in a bid to meet a government target for sales of new electric vehicles - the so-called ZEV mandate. Vertu, which employs 8000 staff, also pointed to a £10m rise in costs from budget tax rises due to take effect in April. ...

Why did Vertu stock fall 6% after a profit alert?

Most analysts were expecting annual underlying profits of £34.6 million, down from £37.8 million the previous year. Vertu’s shares fell 6% after the profit alert. Robert Forrester, chief executive of Vertu, said: “The Government’s ZEV Mandate is causing severe disruption to the UK new car market, and the consumer environment is subdued. ...

Will Vertu fill jobs vacated by natural churn?

It is understood that while a small number of roles have already been axed, Vertu would not seek to fill jobs vacated through natural churn in the months ahead. Vertu said it expected £4m in one-off costs to aid its long-term savings. Those costs also included a move to bring all its brands under the Vertu name. ...