Pramod Thomas is a senior correspondent with Asian Media Group since 2020, bringing 19 years of journalism experience across business, politics, sports, communities, and international relations. His career spans both traditional and digital media platforms, with eight years specifically focused on digital journalism. This blend of experience positions him well to navigate the evolving media landscape and deliver content across various formats. He has worked with national and international media organisations, giving him a broad perspective on global news trends and reporting standards.
Amazon on Wednesday (2) said it created 25,000 permanent jobs in the UK last year, more than double the anticipated amount, as the coronavirus pandemic triggered a worldwide boom in online shopping.
As the US e-commerce giant prepares to unveil another set of gigantic earnings Thursday (3), Amazon said in a statement that its UK workforce now stood at more than 70,000 staff.
The group had in May said it was planning 10,000 new UK jobs in 2021.
"We are proud to have created so many new permanent jobs across the UK in the last year," Amazon UK Country Manager, John Boumphre, said in the statement.
Amazon added that it plans 1,500 new apprentice positions this year, where recruits study while carrying out their jobs.
Last month, the US firm said that is reconsidering a decision to ban payments in the UK made with Visa credit cards, as the pair seek to resolve a dispute over fees.
Amazon's plan because of "high" fees has been put on hold, a statement said.
"We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on Amazon.co.uk," Amazon said in January.
A Visa spokesman added that the two companies are working "closely together" to reach an agreement.
£1.3m needed to join Britain’s top 10% of wealthy families
Average worker would need 52 years of savings to match elite wealth
South East wealth nearly triple the North East
Rising wealth divide in UK
British families now need total wealth of £1.3 million to enter the country’s wealthiest 10 per cent, according to new research that highlights the growing financial divide in post-pandemic Britain. The Resolution Foundation’s ‘Before the Fall’ report reveals that Britain’s stock of wealth continued to grow during the pandemic, reaching a new record high of 7.5 times GDP.
Whilst relative wealth inequality has remained high, the absolute wealth gaps between rich and poor families have grown sharply following the unprecedented mix of economic shocks and policy interventions during the Covid-19 pandemic.
The report reveals that a typical worker would need to save 52 years’ worth of their earnings to join the wealthiest 10 per cent. This shows how building wealth has become nearly unachievable for ordinary workers, with riches now concentrated amongst those who already own homes and have large pension pots. The wealth gap between the richest and middle-income households now stands at £1.3 million per adult, showing how the distance between rich and poor has grown dramatically.
Regional wealth divide
The wealth divide extends across regions, with stark disparities between the prosperous South and struggling North. Median wealth per adult in 2020-22 stood at £290,000 in the South East, compared to just £110,000 in the North East – a gap of £180,000.
This regional inequality reflects decades of uneven economic development, with London and the South East benefiting from higher property values and greater access to high-paying jobs, whilst northern regions continue to face lower house prices and fewer economic opportunities.
Wealth concentration persists
Molly Broome, senior economist, at Resolution Foundation said, “Soaring wealth and an acute need for more revenue has prompted fresh talk of wealth taxes ahead of the Budget next month. But with property and pensions now representing 80 per cent of the growing bulk of household wealth, we need to be honest that higher wealth taxes are likely to fall on pensioners, Southern homeowners or their families, rather than just being paid by the super-rich,”.
The findings paint a picture of a nation where wealth accumulation has increasingly become concentrated amongst those who already own property and have pension savings, making it harder for younger generations and those without existing assets to climb the wealth ladder.
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