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June 29, 2022
HR Technologies

Redundancies set to double the peak reached in the 2008 recession

New analysis of official data released to the Institute for Employment Studies (IES) claims that between May and July 2020, employers notified government of nearly 380,000 potential redundancies. This is more than double the peak reached in the Great Recession, when 180,000 staff were notified as being at risk between January and March 2009. Employers are required to notify the Insolvency Service of all large-scale redundancies, but not where fewer than 20 staff will be made redundant. This means that actual redundancies tend to be higher than the figures covered in official notifications. Based on an analysis of the relationship…
Redundancies set to double the peak reached in the 2008 recession

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