ALMOST 1,800 COMPANIES PLAN TO UNDERTAKE A MASSIVE LAYOFF! THESE ARE THE AFFECTED JOBS- DETAILS LISTED

According to media reports, 1,800 companies in UK are planning mass redundancies due to the coronavirus outbreak. A freedom of information request submitted by the BBC revealed 1,778 businesses told businesses that they are planning to cut 20 or more than 20 jobs in June. Put together this would result in 139,000 job losses as compared to 24,000 in June 2019.

Companies are legally required to offer insolvency service advance notification, informing them of potential redundancies where more than 20 staff are to be dismissed in a ‘single establishment’.

“I would expect it to be bigger in July and bigger again in August, because there was a wave of firms that announced redundancies in the first week of July and the first week of August. I think it is inevitable now that redundancy numbers will be higher than they were at the peak of the last recession in 2008,” Tony Wilson, director of Institute of Employment Studies told the media.

Dixons Carphone, Pizza Express, Hays Travel and DW Sports are among companies that have announced major redundancies in the last week. 

Apart from coronavirus, companies might have opted to announce redundancies in view of the job retention scheme introduced by govt. 

“It comes as many businesses have to decide whether or not to keep staff who have been on furlough on their books as the government’s coronavirus job retention scheme starts to unwind,” Metro UK cited in its report.