Parents planning to quit their jobs as firms move away from remote working

Published

2 years ago

September 28, 2023

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Moving away from remote working is costing parents more than £600 extra per month in childcare, Sky News has learned.

Figures shared by Pebble, a flexible childcare service, show that half of the 2,000 parents polled said they were planning on quitting their jobs as a result.

A third said they have already moved to a company with more flexible working.

The research indicates that employers are requesting an additional two days per week in the office.

Two in five parents said they are subsequently struggling to pay the extra childcare costs.

Figures given to Sky News from the professional networking site, LinkedIn, also show that remote job postings have gone down by 28% since August 2021 – the height of the pandemic.

The number of hybrid job postings, however, has gone up by 34% compared with the same period last year.

Statistics from Adzuna, the jobs website, also show the proportion of hybrid vacancies is at nearly 20%, compared to less than 1% in January 2020.

Remote working job adverts are down to just over 5% from a peak of more than 14% in February 2021.

Kevin Ellis, chair and senior partner at PricewaterhouseCoopers, a professional services company which has 26,000 UK staff, told Sky News the company is sticking with its two to three days in the office rule.

That has not changed since 2020 because the company values what it describes as “consistency”.

Mr Ellis added, however, that going into the office more would help further careers.

“I wouldn’t change it from two to three days a week,” he said, “because I think it’s really hard to message 26,000 people a kind of moving target.

“So I’ll stay with two to three days a week as our policy.

“If asked a personal question, ‘what would you do to make your career more successful?’… I’d say come in more, learn through observation, learn through building networks, and actually meet your mates in the office.”

Sarah, not her real name, has told Sky News she was forced to quit her job at a tech company after they rolled back on remote working.

She was recruited during COVID and worked mostly from home.

She said the company decided this year they wanted her to work from the office three days a week but because of her commute and childcare times it was “impossible”.

“I literally couldn’t do that job anymore. It just wasn’t possible,” she said.

“There are not enough hours in the day for me to be able to be a good worker, be a good mum, let alone have time for myself.

“I was sat there trying to figure out all the hours and the amount of spreadsheets… and calendars I was looking at down to the minute.

“‘(I was thinking to myself) ‘If I dropped (my daughter) off at that time, and I get to the train station at that time’.

“There are only a certain number of hours in the day, right?”

‘Disaster for working parents and a disaster for the economy’

Sarah faced a four-hour long commute per day and said she “had no choice but to leave” the company she worked for.

The charity Pregnant Then Screwed is highlighting how the childcare landscape has changed dramatically since COVID.

The cost has rocketed alongside fewer available places and reduction in hours for services.

It has meant remote working has become necessary for many parents.

Joeli Brearley, founder of the charity, said a lot of people being told to return to the office would have been recruited at a time when positions were “much more flexible”.

She has described it as a “disaster for working parents and a disaster for the economy”.

Ms Brearley said: “To suddenly pull the rug out means that the costs for those parents will drastically increase… because you’re looking at a childcare bill of £14,000 a year for a full time place.”

She added: “When we know there are real issues with availability ultimately it means you have to lose your job/reduce hours because you cannot cope with the cost or get the childcare you need.”

Ngaire Moyes, LinkedIn UK country manager, said the rise in hybrid working posts on the site demonstrates “just how much hybrid has become a part of mainstream working life”.

She described how businesses and employees are seeking “to get the best of both worlds”.

“There are many advantages to remote work, but it’s not without its challenges,” she continued.

“There is some work that simply lends itself better to being done in-person – be that collaborative or creative work, as well as some training and development.”

She said that some feel “strongly about maintaining the flexibility they gained during the pandemic”.

“It gives people a much better work life balance,” she added, “and many believe they can be just as productive working from home for some of the time.”

Business

US trade war: The state of play as Trump signs order imposing new tariffs – but there are more delays

Published

1 hour ago

August 1, 2025

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US trade war: The state of play as Trump signs order imposing new tariffs - but there are more delays

Donald Trump’s trade war has been difficult to keep up with, to put it mildly.

For all the threats and bluster of the US election campaign last year to the on-off implementation of trade tariffs – and more threats – since he returned to the White House in January, the president‘s protectionist agenda has been haphazard.

Trading partners, export-focused firms, customs agents and even his own trade team have had a lot on their plates as deadlines were imposed – and then retracted – and the tariff numbers tinkered.

Money latest: Why your internet feels slower

While the UK was the first country to secure a truce of sorts, described as a “deal”, the vast majority of nations have failed to secure any agreement.

Deal or no deal, no country is on better trading terms with the United States than it was when Trump 2.0 began.

Here, we examine what nations and blocs are on the hook for, and the potential consequences, as Mr Trump’s suspended “reciprocal” tariffs prepare to take effect. That will now not happen until 7 August.

Why was 1 August such an important date?

To understand the present day, we must first wind the clock back to early April.

Then, Mr Trump proudly showed off a board in the White House Rose Garden containing a list of countries and the tariffs they would immediately face in retaliation for the rates they impose on US-made goods. He called it “liberation day”.

The tariff numbers were big and financial markets took fright.

Just days later, the president announced a 90-day pause in those rates for all countries except China, to allow for negotiations.

The initial deadline of 9 July was then extended again to 1 August. Late on 31 July, Mr Trump signed the executive order but said that the tariff rates would not kick in for seven additional days to allow for the orders to be fully communicated.

Since April, only eight countries or trading blocs have agreed “deals” to limit the reciprocal tariffs and – in some cases – sectoral tariffs already in place.

Who has agreed a deal over the past 120 days?

The UK, Japan, Indonesia, the European Union and South Korea are among the eight to be facing lower rates than had been threatened back in April.

China has not really done a deal but it is no longer facing punitive tariffs above 100%.

Its decision to retaliate against US levies prompted a truce level to be agreed between the pair, pending further talks.

There’s a backlash against the EU over its deal, with many national leaders accusing the European Commission of giving in too easily. A broad 15% rate is to apply, down from the threatened 30%, while the bloc has also committed to US investment and to pay for US-produced natural gas.

Where does the UK stand?

We’ve already mentioned that the UK was the first to avert the worst of what was threatened.

While a 10% baseline tariff covers the vast majority of the goods we send to the US, aerospace products are exempt.

Our steel sector has not been subjected to Trump’s 50% tariffs and has been facing down a 25% rate. The government announced on Thursday that it would not apply under the terms of a quota system.

UK car exports were on a 25% rate until the end of June when the deal agreed in May took that down to 10% under a similar quota arrangement that exempts the first 100,000 cars from a levy.

Who has not done a deal?

Canada is among the big names facing a 35% baseline tariff rate. That is up from 25% and covers all goods not subject to a US-Mexico-Canada trade agreement that involves rules of origin.

America is its biggest export market and it has long been in Trump’s sights.

Mexico, another country deeply ingrained in the US supply chain, is facing a 30% rate but has been given an extra 90 days to secure a deal.

Brazil is facing a 50% rate. For India, it’s 25%.

What are the consequences?

This is where it all gets a bit woolly – for good reasons.

The trade war is unprecedented in scale, given the global nature of modern business.

It takes time for official statistics to catch up, especially when tariff rates chop and change so much.

Any duties on exports to the United States are a threat to company sales and economic growth alike – in both the US and the rest of the world. Many carmakers, for example, have refused to offer guidance on their outlooks for revenue and profits.

Apple warned on Thursday night that US tariffs would add $1.1bn of costs in the three months to September alone.

Barriers to business are never good but the International Monetary Fund earlier this week raised its forecast for global economic growth this year from 2.8% to 3%.

Some of that increase can be explained by the deals involving major economies, including Japan, the EU and UK.

US growth figures have been skewed by the rush to beat import tariffs.

The big risk ahead?

It’s a self-inflicted wound.

The elephant in the room is inflation. Countries imposing duties on their imports force the recipient of those goods to foot the additional bill. Do the buyers swallow it or pass it on?

The latest US data contained strong evidence that tariff charges were now making their way down the country’s supply chains, threatening to squeeze American consumers in the months ahead.

It’s why the US central bank has been refusing demands from Mr Trump to cut interest rates. You don’t slow the pace of price rises by making borrowing costs cheaper.

A prolonged period of higher inflation would not go down well with US businesses or voters. It’s why financial markets have followed a recent trend known as TACO, helping stock markets remain at record levels.

The belief is that Trump always chickens out. He may have to back down if inflation takes off.

Business

Trump’s tariffs are back – here’s who is in his sights this time

Published

4 hours ago

August 1, 2025

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'A BIG DAY FOR AMERICA!!!' - Trump's tariffs are back, and will affect dozens of countries

It is “Liberation Day” III – the third tariff deadline set by Donald Trump.

Countries without bilateral trade agreements will soon face reciprocal tariffs – ranging from 25% to 50% – with a baseline of 15% to 20% for any not making a deal.

He has delayed twice, from April to July and from July to August, but hammered this date home in his trademark caps-on style: “THE AUGUST FIRST DEADLINE STANDS STRONG, AND WILL NOT BE EXTENDED. A BIG DAY FOR AMERICA!!!”

“Will not be extended” for anyone but Mexico, it seems. The country secured a 90-day extension at the last minute, with Mr Trump citing the “complexities” of the border.

By close of business on the eve of deadline, he had a handful of framework deals – some significant – including the UK (10%), the EU, Japan and South Korea (15%), Indonesia and the Philippines (19%), Vietnam (20%).

On the EU agreement, which he struck in Scotland, the president said: “It’s a very powerful deal, it’s a big deal, it’s the biggest of all the deals.”

But what happened to the “90 deals in 90 days” touted by the White House earlier this year?

The short answer is they were replaced by letters of instruction to pay a tariff set by the US.

Amid of flurry of late activity, the US played hardball with major trading partners like Canada.

“For the rest of the world, we’re going to have things done by Friday,” said US Commerce Secretary Howard Lutnick – the “rest of the world” meaning everyone but China.

There is, apparently, the “framework of a deal” between the world’s two largest economies, but talks between Washington and Beijing are continuing.

In terms of wins, he can claim some significant deals and point to his tariffs having generated an impressive $27bn (£20.4bn) in June, not bad for a single month.

But the legality of the approach is under siege – with the US Court of International Trade ruling that the “Liberation Day” tariffs exceeded the president’s authority, with enforcement paused pending appeal.

The deadline has stirred the pot, forcing a handful of deals onto the table. Whether they stick or survive legal scrutiny is far from settled.

But the playbook remains the same – threaten the world with trade chaos, whittle it down, celebrate the wins, and pray no one checks what’s legal.

Business

Microsoft is now worth over $4 trn, becoming only second firm ever to pass milestone

Published

16 hours ago

July 31, 2025

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Microsoft has become only the second publicly traded company after Nvidia to surpass $4 trn (£3.03trn) in market valuation, after registering huge earnings.

On Thursday, shares rose on Wall Street with the S&P 500 and Nasdaq climbing to new record highs.

Stocks in Microsoft jumped after posting better-than-expected results, helped by its Azure cloud computing platform, which is a centrepiece of the company’s artificial intelligence (AI) efforts.

Shares in Facebook and Instagram’s parent company, Meta, also surged after beating sales and profit targets.

Technology giants Apple and Amazon will report their results after Wall Street’s close.

Microsoft first cracked the $1trn (£760bn) mark in April 2019, but its move to $3trn (£2.27trn) took longer than technology giants Nvidia and Apple.

Nvidia tripled its value in just about a year and clinched the $4trn milestone before any other company on 9 July. Apple was last valued at $3.12trn.

In comparison, the biggest UK company by market value is drug manufacturer AstraZeneca, worth $235.97bn (£178.55bn).

Companies ranked by market value (USD), according to tradingview.com

1. Nvidia (US) $4.43trn
2. Microsoft (US) $4trn
3. Apple (US) $3.12trn
4. Amazon (US) $2.47trn
5. Alphabet (US) $2.35trn
6. Meta (US) $1.95trn
7. Saudi Arabian Oil (Saudi Arabia) $1.56trn
8. Broadcom (US) $1.42trn
9. Berkshire Hathaway (US) $1.03trn
10. Tesla (US) $1.02trn
11. Taiwan Semiconductor Manufacturing (Taiwan) $1trn
29. Samsung Electronics (South Korea) $338.06bn
36. Alibaba (China) $284.62bn
52. AstraZeneca (UK) $235.97bn

While sweeping US tariffs had investors worried about tighter business spending, Microsoft’s strong earnings have shown that the company’s books are yet to take a hit.

Microsoft’s multibillion-dollar bet on OpenAI is proving to be a game changer, powering its Office Suite and Azure offerings with cutting-edge AI and fueling the stock to more than double its value since ChatGPT’s late-2022 debut.