Retailer’s Oracle System Causes Financial Struggles Amid Inflation Crisis
- Next workers underpaid due to payroll errors
- Problem arose from new Oracle payroll system in February
- Some staff pension contributions deducted without investment into retirement pots
- Employees struggling with cost of living crisis and inflation
- One worker underpaid by over £200, using food banks or taking holiday days to work
- Next apologizes, learning lessons about integrating in-house apps with third-party platforms
Next workers have been underpaid for months due to payroll errors in the company’s new Oracle payroll system, causing financial struggles amidst a cost of living crisis. Some staff had pension contributions deducted without being invested into retirement pots. One worker was underpaid by over £200 and resorted to using food banks or taking holiday days due to unaffordable fuel costs for their cars. Next apologized, acknowledging the issues with integrating in-house applications and third-party platforms.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about payroll errors at Next, their impact on employees, and the company’s response. It includes quotes from an insider and a company spokesperson, and acknowledges the cost of living crisis. However, it could be improved by providing more specific details on the number of affected workers and the exact extent of underpayments.
Noise Level: 3
Noise Justification: The article provides relevant information about a specific issue with Next’s payroll system and its impact on employees, but it could benefit from more in-depth analysis of the underlying causes and potential solutions.
Financial Relevance: Yes
Financial Markets Impacted: Next, a retail company’s employees and their pension contributions
Financial Rating Justification: The article discusses payroll errors that have led to underpayment of workers and deductions in pension contributions, which is related to financial matters for the affected individuals. It also mentions the impact on employees struggling with rising inflation levels.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the last 48 hours.
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