small business redundancies

Small Business Redundancies expected to increase

Employers to Increase Redundancies

The number of employers planning redundancies increased by 5% between the second and third quarter of this year, according to research by the Chartered Institute of Personnel and Development (CIPD). The survey showed that 27% of businesses are now planning to make redundancies compared to 22% last quarter. However, this still falls short of the 38% of employers that planned redundancies from November 2007 when credit crunch fears first emerged. CIPD public policy adviser Gerwyn Davies said that redundancies can hit small firms harder than larger firms and that they should be a last resort. “The impact of redundancy is great for all firms, but redundancy has a greater impact on smaller firms because it can really affect staff morale,” he said. “There is a temptation to mak... »