National Trust to cut 550 jobs after Budget pushes up costs

The Nationwide Belief has introduced plans to chop 6% of its present workforce, about 550 jobs, blaming an inflated pay invoice and tax rises launched by Chancellor Rachel Reeves.The heritage and conservation charity mentioned it was beneath “sustained value pressures past our management”.These embody the rise in employers’ Nationwide Insurance coverage contributions and the Nationwide Residing Wage rise from April, which the Nationwide Belief mentioned had pushed up annual wage prices by greater than £10m.The associated fee-cutting measures are a part of a plan to seek out £26m value of financial savings.A forty five-day session interval with employees started on Thursday and the Belief mentioned they have been working with the union Prospect “to minimise obligatory redundancies”.The charity is operating a voluntary redundancy scheme, and is anticipating that to considerably scale back obligatory redundancies, a spokeswoman mentioned.The job cuts will have an effect on all employees from administration down, and everybody whose job is in danger might be supplied an appropriate various the place out there, the spokeswoman added.Following consultations, which is able to end in mid-to-late August, the cuts might be made within the autumn.The Belief at the moment has about 9,500 staff.