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New Purplebricks owner slashes workforce by 15%

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The new owner of Purplebricks, the online estate agent, is finalizing plans to reduce its workforce by cutting more than 100 jobs, which accounts for approximately 15% of the company’s employees.

Strike, a rival operator, is expected to approve the redundancy plans as part of its efforts to improve Purplebricks’ financial performance.

The consultation process, initiated after Strike’s purchase of Purplebricks in May, is set to conclude next week. Sources close to the company reveal that around 100 to 120 jobs are likely to be affected.

Despite a challenging UK housing market due to Bank of England base rate increases, Purplebricks has performed better than anticipated since the takeover by Strike. The company was once valued at over £1bn but saw a significant decrease in value, being worth just over £2m at the time of the acquisition.

The restructuring process aims to shift Purplebricks to a scalable and lower-cost operating model. The company’s spokesman mentioned that while certain roles will be made redundant, they are also proposing new roles to enhance their specialized workforce, focused on delivering excellent customer service.

The acquisition by Strike has led to an increase in weekly instructions for Purplebricks, resulting in it achieving the top market share nationally for three of the past six weeks. The consultation process is aimed at establishing the right operating model for Purplebricks’ continued success in the estate agency industry.

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Nvidia surpasses Microsoft as the most valuable company in the world

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Nvidia has emerged as the world’s most valuable company, surpassing Microsoft with a market value of over $3.3 trillion.

This shift comes on the heels of Nvidia’s consistent growth in the semiconductor sector and its strategic advancements in artificial intelligence and gaming technologies.

This milestone marks a significant validation of Nvidia’s aggressive expansion and innovation strategies under CEO Jensen Huang, who has steered the company towards dominance in high-performance computing.

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Finance expert empowers his social audience with accessible wealth tips

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The right strategy can change the game for your financial freedom. Meet the advisor making his tips accessible to all.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by James Wrigley, Financial Advisor at First Financial. #wyld money #trending

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Money

It takes a village: coordinated financial teams prove paramount to maximising wealth

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The pursuit of wealth is often faced by significant challenges including debt, lifestyle costs, and burnout – so what methods can help overcome these challenges?

Maximising financial opportunities involves a suite of tasks, from leveraging favourable loan rates, strategic tax planning, and coordinated financial advising.

Mark Wyld from MW Wealth joins to discuss more. #featured

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