HR news round-up: HR stories making the headlines 27 July 2010

A round-up of HR-related stories in today’s newspapers.

A return to 1950s-style policing was signalled by the Government on 26 July as ministers unveiled plans to recruit tens of thousands of special police constables, reports the Telegraph. Home secretary Theresa May said the number of the voluntary officers would increase more than fourfold – from the current 15,000 to the peak levels of 67,000 last seen more than 50 years ago.

Tony Hayward has resigned as chief executive of BP, after the energy giant announced a record $17bn loss this year on the Gulf of Mexico oil spill, reports the Telegraph. The oil company also said that Bob Dudley, the American in charge of BP’s oil spill response unit, will take over on October 1 and lead the company through an accelerated programme of $30bn in asset sales.

Banks should be “very, very self-conscious” about how they reward staff and investors, business secretary Vince Cable has cautioned. The minister has issued a clear warning to the City that the Government would be carefully scrutinising bonuses and dividend payouts, just days before the major high street banks begin publishing their latest profit figures, according to the Guardian.

The directors of the agency set up to manage the Government’s stakes in Britain’s part-nationalised banks have agreed to take a 5% pay cut as public-sector spending is slashed, reports the Independent. Sir David Cooksey, the chairman of UK Financial Investments (UKFI), said it was focusing hard on cutting its costs, which would be “substantially below” the targets in its business plan.

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