100+ Jobs at Risk, 1,700 New Positions Planned

  • Over 100 jobs at Whitbread’s head office may be cut after Costa Coffee sale
  • Consultation involving around 10% of head office staff concluded this month
  • Up to 10 people have already left the company, none from executive committee affected
  • Alternative jobs offered where possible
  • Spokesperson: ‘A small number of people leaving’, ‘creating 1,700 new jobs in next 12 months’
  • £2.5bn from sale to be returned to shareholders

Whitbread is expected to cut around 100 jobs at its head office following the sale of Costa Coffee to Coca Cola for £3.9bn. The Times reports that a consultation involving approximately 10% of the company’s staff has concluded this month, with up to 10 employees already leaving. None of the executive committee is expected to be affected, and alternative positions will be offered where possible. A Whitbread spokesperson stated that a ‘small number of people’ have left the hospitality group but plans to create 1,700 new jobs over the next year as they open more than 40 hotels and restaurants across the UK. £2.5bn from the sale will be returned to shareholders.

Factuality Level: 8
Factuality Justification: The article provides accurate information about job cuts at Whitbread following the sale of Costa Coffee to Coca Cola and mentions the potential for alternative jobs. It also includes a statement from a spokesperson regarding the situation.
Noise Level: 3
Noise Justification: The article provides relevant information about job cuts at Whitbread following the sale of Costa Coffee to Coca Cola and mentions potential new job openings. It also includes a statement from a spokesperson. However, it lacks in-depth analysis or exploration of long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Whitbread, Costa Coffee, Coca Cola
Financial Rating Justification: The article discusses a major sale of Costa Coffee to Coca Cola for £3.9bn and potential job cuts at Whitbread, which impacts the companies involved and their employees, as well as mentioning the return of £2.5bn to shareholders.
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 text

Reported publicly: www.retailsector.co.uk