UK faces biggest wave of redundancies in a generation, think-tank says – Reuters India

LONDON (Reuters) – Britain is on course to suffer the biggest increase in redundancies in a generation in the second half of 2020, based on lay-off notifications by employers hit by the coronavirus shock to the economy, a think tank said on Monday.Around 650,000 people, and potentially a lot more, were likely to be made…

UK faces biggest wave of redundancies in a generation, think-tank says – Reuters India

LONDON (Reuters) – Britain is on course to suffer the biggest increase in redundancies in a generation in the second half of 2020, based on lay-off notifications by employers hit by the coronavirus shock to the economy, a think tank said on Monday.Around 650,000 people, and potentially a lot more, were likely to be made redundant in Britain between July and December, the Institute for Employment Studies, an independent research organisation.“Sadly, much of this restructuring appears now to be inevitable,” it said.Layoff notifications were running at more than double the levels of the 2008/9 recession and around 450,000 redundancies could occur in the July-September period – 50%
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