Almost three-quarters of UK manufacturers are preparing to cut jobs in the next six months, according to new figures that will heap further pressure on the government to protect employment ahead of an economic stimulus package expected next week.
More than 10,000 jobs have already been put at risk in the past week across industries such as retail and aviation. Now, manufacturers are also warning of widespread redundancies as the government’s furlough scheme begins to wind down.
More than 40 per cent of manufacturers said they would make job cuts before the end of the year, according to a survey of members by Make UK, which represents the sector. A further third said redundancies were possible.
Next week, the chancellor is expected to reveal a package of measures to boost the economy, from tax cuts to investment pledges, with companies calling for the immediate extension of financial support to help