Buzz People

Planned job cuts fall

August saw the lowest figure for proposed job cuts for seven years, despite the imminent end of the government's furlough scheme.
Figures published by the Insolvency Service show that British employers planned 12,687 job cuts in August, a fall of 11% since July.
The data suggests that the predicted surge in unemployment this autumn may be smaller than expected.
At the height of the pandemic, firms proposed over 150,000 job cuts a month.
Employers planning to make 20 or more staff redundant have to notify the Insolvency Service when they start the process.
The number of cuts they propose gives an early indication of where the job market is heading, long before official unemployment data, which is several months behind.
August was the first month in which firms with staff on furlough were required to pay 20% of their wages, as well as pension and National Insurance contributions.
The scheme ends altogether at the end of September - at this point employers will have to decide whether to pay all their workers' wages themselves, or let them go.
The latest available data shows that 1.9 million workers were still on furlough at the end of June, and experts had predicted that many of them would end up being made redundant.
But just 12,687 job cuts were proposed in August - the lowest number for seven years.
So an autumn surge seems less likely now, said Tony Wilson, director of the Institute for Employment Studies.

Planned job cuts fall despite furlough deadline - BBC News
Register Now