Around one in three employers are planning to make redundancies, according to a recent report by the CIPD and Adecco Group.
In a survey of 1,006 employers in the pair’s recent ‘Latest Market Outlook’, 30% of employers said they intend to make redundancies in the three months leading to December 2020.
The poll was taken just before the recent lockdown measures in England and expansion of the job retention scheme were announced.
This figure is a marginal reduction from the 33% of employers who said they would make redundancies between July and September.
Furthermore, 53% of businesses plan to recruit staff before the end of 2020, an increase from the 49% that said the same in the summer.
However, this is still below the 69% of employers that said they planned to hire employees over the same period last year.
Gerwyn Davies, CIPD Senior Labour Market Analyst, said: “Overall, notwithstanding the considerable uncertainty, the survey data suggests that the jobs fallout is a more modest one compared with the previous quarter, which might indicate that the worst of the jobs cull might be over in the short term.
“If this proves to be the case, the recent record quarterly increase in redundancies might become less dramatic in the short term alongside modest improvements to hiring confidence levels.”