Virgin Media plans to cut 15 percent of its workforce by 2012 — 2,200 jobs. |
In October, U.K. unemployment rose at the fastest rate in 16 years — with the number of people receiving jobless benefits rising from 36,500 to 980,900. About 1.82 million British people are now out of work, and earlier this week, businesses cut another 5,000 jobs.
On Tuesday, Britain and the EU called for coordinated global efforts to stem an impending recession.
Blogger “Nicolae Sfetcu” outlines how the financial crisis has impacted several different European countries.
On a British conservative blog, users respond to a post about the unemployment rate. User “Torymory” writes about losing his/her job and blames the government for the “mess,” while user “Tony Makara” bemoans the British economy’s dependence on the world.
From Iceland, blogger “Simmi” writes about his personal experience in the recession, speaking of growing resentment in the country. Iceland was hard-hit after three major banks collapsed within one week in October.
The crisis may have far-reaching effects, from financial institutions to more minute aspects of daily life. “Finding Dulcinea” writes that French culinary tastes may shift in response to the financial upheaval.
Ireland faces a recession for the first time in 25 years. The “Notes on the Front” blog looks at the future of recession, unemployment and economic policy in the country.
Blogger “Dirk Ehnts” criticizes European response to the financial crisis, calling for massive and coordinated action and saying that policy thus far has been driven by “dogma instead of pragmatism.”
An article in the Los Angeles Times compares the economies of Italy and Spain, which have faced a lower level of financial panic than the rest of Europe.
For more on global unemployment, read our previous Blogwatch: Unemployment claims reach historic highs.
Photo courtesy of wallyg under a Creative Commons license.
