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Almost 10,000 people were expected to be made redundant at the start of this week, according to outplacement firm, Randstad RiseSmart.

Dubbed ‘Black Monday’ the firm predicted that 7 December 2020 was likely to be the worst day of the year for job losses in the UK, as many organisations cut back ahead of the new year. It expects approximately 9,550 redundancies to be announced.

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The first week of December is always a bad time for layoffs, and the economic outlook means employers will be making more redundancies than ever this year.  This is not just limited to big name retailers such as those already reported in the press, but is all sorts of businesses, across different sectors – who are having to make some very difficult decisions.

Simon Lyle, UK managing director of Randstad RiseSmart said. "The economy is set to shrink 11% this year as businesses start to deal with the medium term economic fallout of the pandemic. Some reports say that the economy may not recover to pre-pandemic levels until 2027,”.

READ MORE:  https://www.personneltoday.com/hr/nearly-10k-job-losses-expected-on-black-monday/

ExcludedUK is a non profit grassroots NGO founded to provide a platform for those denied fair and adequate financial support from the Governments COVID-19 Support schemes since the pandemic began in March. With a community of over 60,000 members across all industries, age groups and regions, we estimate that three million UK tax payers have been excluded from the same support as others, which has lead to thousands of people losing their livelihoods, careers, and homes, and sadly, for some, their lives. 


ExcludedUK has been fundraising to provide urgent help and support for those affected in the forms of business and career advice, debt support and 121 counselling sessions within 48 hours. Please find more information on our website www.excludeduk.org.

 

 

Tags: Excluded News, Unemployment, Economic Recovery

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