Economics
U.K. Businesses Expect to Cull Jobs Once Furlough Program Ends
- Almost half of firms say more cuts are inevitable in October
- Medium-sized companies likely to makes the most cuts
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Almost half of businesses taking part in the U.K. government’s coronavirus jobs program expect to let go of furloughed staff when support ends in October.
The problem is more acute for medium-sized businesses, two-thirds of whom say they’ll have to cut jobs when the wage subsidies expire, according to polling by Opinium and the think tank Bright Blue. A quarter of businesses will struggle to increase their share of employee salaries between August and October, the report showed.