Confederation of British Industry this week pledged a significant shakeup.
London:
Britain’s biggest business lobby group on Friday confirmed plans to cut jobs after allegations of sexual harassment triggered an exodus of members.
The Confederation of British Industry (CBI) has been mired in a scandal since the claims were made public this year, with reports earlier this week claiming the group could fold without major streamlining.
“In light of the recent loss of some of our revenue, the CBI has to take some difficult decisions,” it said in a statement Friday.
“We need to reduce our salary cost base by a third among other likely cost-saving measures going forward.”
The CBI employs about 300 staff and is reportedly expected to offer voluntary redundancy in a bid to cut jobs.
The organisation this week pledged a significant shakeup.
New director general Rain Newton-Smith, speaking Wednesday as UK business looks for leadership amid a cost-of-living crisis, said “A renewed CBI can once again have a voice on the serious economic challenges the UK faces”.
Changes outlined ahead of the group’s extraordinary general meeting on Tuesday include the replacement of CBI president Brian McBride and non-executive directors.
The EGM will hold a vote on a resolution which calls on remaining member companies to put their confidence in CBI proposals to reform its “governance, culture, and purpose”.
The organisation is also creating a People & Culture Committee plus an external expert-led Culture Advisory Committee.
“We believe there is a strong basis for our members to continue to back us at our EGM,” the CBI added Friday.
More than a dozen women claimed they had been sexually harassed at the CBI and two others alleged they had been raped.
Newton-Smith took over from Tony Danker, who departed over a separate misconduct allegation.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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