Survey shows redundancy plans escalating and prospects for normal trading receding
Britain’s manufacturers are calling on the Government to extend the Job Retention Scheme for strategic industry sectors by six months in order to avoid the loss of highly skilled job losses in manufacturing on a scale not seen since the 1980s. These sectors are of critical importance to the long term health of the economy and their protection is an investment in our industrial future.
The call by Make UK comes on the back of its latest Manufacturing Monitor survey which shows that the number of companies planning to make redundancies in the next six month has risen to 53%. This has continued the sharp rise seen in the last three surveys over an eight week period, rising from 25% to 42% previously and comes despite a gradual improvement in sales and orders.
Almost a third of companies (32.3%) are planning to make between 11% and 25% of employees redundant with just under 8% of companies planning to make between a quarter and half their workforce redundant.