One in three British firms 'expect to make redundancies'

Thursday, August 13, 2020

One in three firms expects to post layoffs by the end of September, dealing a blow to Britain's hopes of recovering from the coronavirus crisis, the latest survey suggests.

The 33% of businesses planning layoffs by the end of the quarter represents an increased increase compared with the 22% of businesses that have submitted job loss plans in the CIPD-Adecco Spring Quarterly Report.

Research from charity the Chartered Institute of Personnel and Development (CIPD) and recruitment service Providers Adecco shows a 50% rise in employers anticipating job losses compared to three months ago.

The British economy is expected this week to formally slip into recession, after dropping a record 20 per cent in the spring quarter. Data from the Centre for Retail Research shows there have been more than 22.000 job cuts in catering this year.

Analysts predict a big rise in unemployment in the fall, as the nation's job security program is set to expire at the end of October.