socialmedian: BT adds to job woes with scheme cut

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Source: The Guardian

Aug 23, 2009

Summary

• Decision based on recession and BT's 'headcount pressures'
• UK graduate vacancies fall by 25% as 49 apply for each job

BT has become one of the first big name companies to scrap its graduate recruitment scheme, adding to fears that dwindling job prospects may lead to a "lost generation" of young people leaving school or university and failing to find work.

BT blamed the economy on the decision to axe the scheme and said there was no certainty when it might start recruiting again. BT is Britain's ninth-largest employer and has 147,000 workers.

The decision to suspend the programme came as both the Confederation of British Industry and the Chartered Institute of Personnel and Development today call on the government to act urgently to prevent youth unemployment reaching "unacceptable levels".

A survey released last month found that the number of graduate vacancies in Britain had fallen by 24.9% this year, much steeper than the 6.5% decline in vacancies in 2002, following the bursting of the dotcom bubble. Information technology has been the hardest hit, with a 44

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