ED blamed again for 3500 job losses at First Group.
First Group has announced plans to cut 3500 jobs – representing 3 per cent of its cost base – over the next year in one of the most drastic responses yet by a bus and rail group to the Economic Downturn.
FirstGroup, which has 140000 employees, said the job cuts would be split evenly between the US and the UK. About a third of the 1750 jobs to be axed in Britain will be in rail, with two-thirds in the bus division.
Total losses = 3500
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