Consumer confidence hits GFC lows; 450 jobs to go at Qantas: Midday Roundup
Wednesday, May 28, 2014/
Consumer confidence has taken its biggest hit since the global financial crisis, with new survey results showing it has fallen to its lowest level since May 2009 in the aftermath of the budget.
The ANZ-Roy Morgan Consumer Confidence report shows confidence fell 15% over the past five weeks, a period which saw heavy media attention on the government’s ‘tough’ budget.
Confidence has now dipped below the ‘neutral line’ for the first time since the GFC.
While the consumer spending outlook is still expected to improve this year, ANZ said the confidence impacts from the budget may affect the speed of that recovery.
Head of corporate and commercial economics for ANZ, Justin Fabo, said in a statement: “While the policies from the budget are likely to be a modest drag on consumer spending over the next few years, the hit to confidence, if sustained, could prove to be more important.”
Another 450 jobs go at Qantas
Qantas has scrapped another round of jobs, with about 450 staff let go as it closes call centres in Brisbane and Melbourne.
The airline carrier announced today it would consolidate its three call centres into one facility based in Hobart by 2016, as a part of it $2 billion transformation program and associated reduction of 5000 jobs.
In a statement, Qantas Domestic chief executive Lyell Strambi said operating three call centres in different states was simply not efficient, particularly as customers increasingly turn to online, mobile and social media.
Employees in the Brisbane and Melbourne call centres will be offered re-deployment to Hobart.
Shares up on open
Aussie stocks have followed Wall Street’s positive lead this morning.
The S&P/ASX200 benchmark was up 15.8 points to 5527.5 at 12.17pm AEST. On Tuesday, the Dow Jones closed 69.23 points higher, up by 0.42% to 1675.5 points.
LinkedIn engagement pods: Silver bullet or desperate ploy? Sue Parker DARE Group founder
Own it: The 10 things you need to do to manage your personal brand Lisa Stephenson Who Am I Projects founder
How to call your team into action with a winning presentation Emma Bannister Presentation Studio founder
The link between diet and mental health — and how to eat your way to wellbeing Kate Save Be Fit Food co-founder
From interactive videos to AI: The five marketing trends that will dominate 2019 Warwick Boulter Collaboro co-founder
Australia is leading the legaltech revolution, but what does this mean for lawyers, firms and clients? Jodie Baker Xakia founder
Why a video news release needs to be part of your PR strategy Leisa Goddard Adoni Media managing director
Want to catch more customers? Here's how to create a super sales funnel Jovana Vujnic Bumper Leads founder