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Redundancy fears haunt labour market

Redundancy fears haunt labour market

A survey of 721 UK employers reveals that the UK economy should be braced for yet more redundancies in the year ahead, with older workers set to bear the brunt. The CIPD/KPMG Labour Market Outlook Redundancy Special reveals that more than a quarter of employers (26%) have contingency plans to make new or further redundancies in the next twelve months in addition to those already planned.

Organisations who have already made or planned to make redundancies in the next three months are more likely to be considering further job cuts in the next twelve months. The news comes on the back of grim unemployment statistics, which show that redundancy activity has increased sharply in recent months.

Almost one in five employers say that they are going to enforce the Governments retirement age policy - which allows UK organisations to make workers over 65 redundant without having to provide a business reason for doing so - more vigorously. The report also shows that the average cost for making workers redundant now stands at more than 10, 000.

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