‘Surprising’ new data shows number of planned layoffs is falling but staff are still talking about the risk
The number of planned redundancies in the UK fell by 21 per cent in the last quarter, according to new figures.
The research, from employment law firm GQ LIttler, revealed a drop-off in planned redundancies from 50,382 in January to March 2022, to 39,669 in April to June 2022.
Philip Cameron, partner at GQ Littler, said this was “surprising” considering inflationary pressures and an uncertain economic outlook.
“Given the mounting economic pressure it is very surprising that businesses have decided not to go down this route [making redundancies] just yet,” he said.
“However, the extreme shortage of available staff across the economy means that many businesses are retaining underemployed staff rather than making them redundant.”
Noting that many businesses may be currently “retaining underemployed staff”, Cameron added that the drop-off in planned redundancies does not mean they won’t happen at all.
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He said: “Business is by no means out of the woods yet, and as rising interest rates slow the economy, we may see more redundancies in the future.”
For now, Jon Boys, senior labour market economist for the CIPD, said that lack of redundancies was likely because businesses were focusing more keenly on retention due to well-documented...
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