Almost half of firms 'planning to cut staff'
Jan 26 2009
Almost half of all firms are planning to make some staff cuts in the next few months, with an increasing number intending to slash one in ten employees.
Recruitment company Randstad questioned human resources (HR) decision makers, with 46 per cent saying they plan to cut employee numbers in the next few months.
In addition, 22 per cent of the respondents plan to slash more than ten per cent of their staff.
Of those reducing workers, 65 per cent have chopped jobs in the clerical and administrative departments, while nearly half have reduced managerial numbers.
However, it seems those with the least experience will unsurprisingly be hit the hardest, with a quarter of the respondents saying they will cut entry-level posts and a third targeting people with less than five years experience.
The decision makers also say they are looking at other ways to cut costs, such as reducing expenses, implementing below-inflation salary increases and cutting bonuses.
According to the HR representatives, employees are increasingly working longer hours and taking fewer sick days, as fears about job security rise.
The research comes as last week it was revealed 1.92 million people in the UK are now unemployed, according to figures from the Office for National Statistics.
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