Warning of 500,000 autumn redundancies

HUNDREDS of thousands of redundancies could be announced in the autumn, a study suggests.

Analysis by the Institute for Employment Studies (IES) found it was likely the UK will be hit by about 450,000 redundancies in the coming months – but the figure could exceed 700,000.

Losing half a million jobs will be the highest level since at least the mid-90s, the think-tank said.

It added that between May and July this year, employers notified the Government of nearly 380,000 staff at risk of redundancy – more than double the peak in the financial crisis a decade ago.

IES director Tony Wilson said: “This data lays bare the scale of the jobs crisis that we’re facing in the autumn, with half a million people likely to lose their jobs in the coming months.

“Our top priority must be to support those facing the prospect of losing their jobs to find new, secure and good quality work as quickly as possible. We also mustn’t accept that all of these redundancies are inevitable.”

A UK Government spokesman said: “Supporting jobs is an absolute priority, which is why we’ve set out a comprehensive Plan for Jobs to protect, create and support jobs across the UK by providing significant, targeted support.

“We are continuing to support livelihoods and incomes through our £2billion Kickstart scheme, creating incentives for training and apprenticeships, a £1000 retention bonus for businesses that can bring furloughed employees back to work, and doubling the number of frontline work coaches to help people find work.”