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Brexit: Richard Branson’s Virgin Group cancels 3,000 jobs



Brexit: Richard Branson's Virgin Group cancels 3,000 jobs

The debilitating effect of Britain’s exit of the European Union is beginning to take a serious toll on its economy with the UK Pounds Sterling hitting its lowest value in over 30-years and now the news that Richard Branson’s Virgin Group has canceled 3,000 jobs following Britain’s vote to leave the EU.

The businessman says Britain’s decision to exit the EU may have made his company to lose one third of its value while also revealing that his company also had to turn down a mouth watering deal due to the controversial vote to quit the EU.

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Speaking to ITV’s Good Morning Britain show, Branson said; “We’re not any worse than anyone else but I suspect we’ve lost a third of our value, which is dreadful for people in the workplace.

“We were about to do a very big deal and we cancelled that deal that would have involved 3,000 jobs and that’s happening all over the country,” he added.

The founder of the Virgin group also painted a gloomy picture for the British economy.

“This country is going to go into recession,” Sir Richard said.

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