Amazon Worker Strike

Amazon workers are staging the first ever UK strike on Wednesday against the online giant in a protest over pay. Around 300 staff walked out at Amazon's Coventry warehouse, the GMB union said, over what they called a "derisory" 5% pay rise to £10.50 an hour. Workers told the BBC about "severe" conditions, claiming they are constantly monitored and upbraided for "idle time" lasting just a few minutes. Amazon said it has a system "that recognises great performance". Two Amazon workers, who are members of the GMB, said the robots in the warehouse "are treated better than us". In August, Amazon offered UK workers a 5% payrise, which was worth 50p outside London and the South East. Inflation, the rate at which prices rise, is at a 40-year high, putting pressure on household budgets. An Amazon spokesman said it was "proud" of its "competitive" pay rates. He said the starting pay for workers was £11.45 an hour in London and the South East, and £10.50 an hour in the rest of the UK. Amazon's global sales and profits soared as Covid restrictions forced people to shop online. Between 2019 and 2020, profits nearly doubled to $21.3bn (£17.2bn) and rose again the following year to $33.3bn.

Amazon Worker Strike

Kidult Shopping Trend

Parents are increasingly buying toys and games for themselves, despite cost-of-living pressures, new research suggests. Analysts NPD said more than one in four toys and games bought last year went to adults and teenagers. So-called kidults may be spending their limited disposable income on puzzles rather than nights out, it added. Among the most popular items sold were soft toys such as Squishmallows, building sets, action figures and vehicles. It came as toy sales overall fell in 2022 as parents cut back on low-cost impulse buys. The number of toys and games sold fell by 6% compared with the previous year, NPD said. Parents typically bought toys of £30 to £50, but resisted small and unplanned purchases, with sales of "pocket money toys" under £10 falling sharply. The average price of a toy is £10.54. With price so important to consumers, the toy industry has been lobbying the government over rules regarding the sale of cheap, potentially low-quality products on internet marketplaces.

Kidult

Business Live!

 

We are happy to announce another fantastic Business Live opportunity for you to take part in. We have arranged for Craig Blakeley from botanical drink brand Fentimans to come into school to speak with you on Monday 6^th February from 12:30pm till 1pm in the Library. Craig has a wealth of experience in marketing fast moving consumer goods (FMCG) and will be able to bring some of our theory to life with examples of how the develop and advertise new products. He will also explain his journey from taking GCSE Business to where he is today. Space is limited in the library to only the first 30 that book a place so if you wish to attend, please complete the form which has been sent to your e-mail.

Fentimans

Reed Hastings Steps Down from Netflix

Reed Hastings is stepping down from his role as co-chief executive of Netflix, the firm he helped found more than 25 years ago. His announcement came as Netflix unveiled a big rise in subscriber numbers at the end of last year. With money tight, people were expected to cut back on streaming services. But Netflix bucked that trend, adding more than seven million new subscribers, far more than analysts expected. Harry and Meghan's revelations were a big draw, as was new Addams Family spin-off series Wednesday, and the film Glass Onion. Mr Hastings' long-planned move means he is leaving Netflix in a crowded market, with challenges ahead, but with 231 million viewers signed up around the globe. Mr Hastings, who was an early pioneer in the streaming business and is seen as one of the original tech industry disruptors, will stay on as executive chairman. Business students may also wish to check out 'Bank of Dave' which is about how a self-made car dealer decides to fight the odds and set up his own local bank - check out the trailer below.

Netflix

Plug Pulled on Electric Battery Plant

UK battery start-up Britishvolt has collapsed into administration, with the majority of its 232 staff made redundant with immediate effect. Employees were told the news at an all-staff meeting on Tuesday morning. The firm had planned to build a giant factory to make electric car batteries in Blyth, Northumberland. But Britishvolt struggled to turn a profit and ran out of money. Its board is believed to have decided on Monday that there were no viable bids to keep the company afloat. Plans for the £3.8bn factory in Blyth were part of a long-term vision to boost UK manufacturing of electric vehicle batteries and create around 3,000 skilled jobs. The UK currently only has one Chinese-owned battery plant next to the Nissan factory in Sunderland, while 35 plants are planned or already under construction in the European Union. Industry experts have said the UK will need several battery factories to support the future of UK car making as pure petrol and diesel engines are phased out over the next decade.

British Volt

Disney Squeezing Customers

 

Disney is facing criticism from a high-profile investor that is unusual in the business world: that it is squeezing money out of its theme park customers. The firm's reliance on raising ticket prices and other charges to drive growth is "unsustainable", says Trian Partners boss Nelson Peltz. He made the claim in a presentation calling for change at the media giant. He also raised concerns about losses in Disney's streaming business and public complaints about low staff wages. "Disney may believe that price increases and 'nickel-and-diming' of cast members and other costs is good for the bottom line," he says. "However, we suspect it is short-term thinking that puts the brand value and long-term health of the business at risk." "Nickel-and-diming" is a US term that means to damage someone financially by making a large number of small charges or cuts to pay. The company recently said it would roll back some of the price increases at its theme parks, where spending per person has shot up nearly 40% since 2019, according to Trian Partners, which has built up a 0.5% stake in Disney worth $900m. The increases have come at a time of widespread price inflation across the economy. Staff at Disney parks have also repeatedly protested for higher pay in recent years.

Disney

Aldi Reducing Online Services

Aldi has announced it is making a huge change to its website which will leave some customers disappointed. The supermarket giant is cutting its online operations and stopping deliveries from its website. This means customers will no longer be able to order Specialbuys to their door, among other items. Aldi will be reducing some of its online operations later this year, as it instead focuses on opening new stores. The move comes as Aldi hopes to hit its target of 1,000 stores across the country, up from its current 990 branches. An Aldi spokesman said: “Aldi now has around 1,000 stores across the country and we’re building even more to bring our great quality, low priced products closer to more people. "Aldi is more popular than ever, and we are prioritising making our Wine and Specialbuy products available in our stores. “We keep our prices low by being the most efficient retailer in Britain and we have therefore taken the decision to stop selling wine and spirits online for home delivery from later this month. "We will also stop selling our Specialbuys online for home delivery later this year. Our grocery Click & Collect service will continue, and we would like to thank every customer that has bought Aldi products online. "Aldi will continue to consider new digital services in the future.”

Aldi