Job loss rise forecast by CIPD

31/10/2008

Job losses could increase rapidly in the UK over months to come, a new poll has suggested.

The survey, from the Chartered Institute for Personnel and Development (CIPD), added that older workers past the official retirement age were to be more at risk from the round of redundancies.

Just over a quarter of firms said that they had plans in place to axe extra workers over the coming year - with one in five suggesting that they would take advantage of laws allowing them to make over-65s redundant without having to justify the decision.

Around 1.8 million people currently claim unemployment benefit in the UK - a figure many analysts expect to hit two million over the months to come.

This is because of the credit crunch, which has squeezed businesses' budgets and caused a general economic downturn in the UK.

John Philpott, CIPD's chief economist, said: "The spectre of redundancy is beginning to haunt the UK jobs market once again.

"Employers have held off from making large scale redundancies until recently but we are now on the verge of a torrent of bad news.

The CIPD surveyed 721 organisations over the course of its research.

Tags; Retirement Money Problems, Job loss,

• Share
• 
• 
• Store
• 
• Follow
•