Economics
Manufacturers Seek Longer U.K. Furlough as Job Losses Loom
- 30% of companies plan to cut jobs in the next six months
- MakeUK calls for further assistance for auto, aviation sectors
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U.K. manufacturers called on Chancellor of the Exchequer Rishi Sunak to extend his flagship furlough program amid warnings that almost a third of companies plan to cut jobs in the next six months.
A survey of 226 employers by industry group MakeUK found 62% want the program, under which the Treasury has paid as much as 80% of wages, to be extended beyond the end of October. With 30% of respondents saying they intend to cut workers, extension of the plan could avert a “wave of redundancies,” the group said.