Home / World News / Covid-19 impact: Planned layoffs at British companies surge in June

Covid-19 impact: Planned layoffs at British companies surge in June

Businesses are required to inform the Insolvency Service if they plan to cut 20 or more jobs

Premium

During the pandemic, the government has been paying the salaries of almost 10 million furloughed workers.

1 min read Last Updated : Aug 09 2020 | 8:39 PM IST

The number of British companies planning to cut staff numbers in June was five times higher than in the same month a year earlier, in an ominous sign of Covid-19's economic impact.

Figures obtained by the BBC show that 1,778 companies informed the government of plans to cut a total of 139,000 jobs. A year earlier the figure was 345 companies announcing a total of 24,000 job losses.

Businesses are required to inform the Insolvency Service if they plan to cut 20 or more jobs.

During the pandemic, the government has been paying the salaries of almost 10 million furloughed

Topics : Coronavirus UK firms UK govt

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in