Third of employers to cut jobs as costs rise

CONFIDENCE among employers has plummeted with many slashing recruitment and staff, says a report.

- Alan Jones

A survey found that hiring plans were hit by impending increases in national insurance contributions and the minimum wage.

The Chartered Institute of Personnel and Development said the Government should boost its business support and skills policy.

Its poll of more than 2,000 employers found a third of firms facing soaring employment costs will cut their headcount through redundancies or cutting recruitment with two in five warning of price rises.

Burden

Peter Cheese, boss at the Chartered Institute of Personnel and Development, said: "These are the most significant downward changes in sentiment we've seen in the last 10 years, outside of the pandemic.

"Employer confidence has been impacted by planned changes to employment costs, and employment indicators are heading in the wrong direction.