UK braces for further job losses as 26,000 disappear in just two weeks

pret a manger press image

The UK is braced for further job losses this week after 26,000 disappeared in just two weeks.

G4S unveiled more than 1,000 jobs losses this morning and there could be more to come from the aviation and hospitality sectors if the relevant trade bodies are to be believed.

Last week 10,000 jobs went in the space of five days, despite Chancellor Rishi Sunak offering companies £1,000 to bring back each furloughed employee.

Boots, Rolls-Royce, John Lewis, Burger King and Pret a Manger all announced cuts to staff.

Nevertheless they weren't as steep as two weeks ago when 15,000 jobs went.

That week Upper Crust owner SSP cut 5000 employees with Harrods, TM Lewin and Virgin Money also putting out statements about cuts to staff.

This paper broke news that John Lewis was to slash numbers, although the group refused to provide exact numbers.

In a letter to staff, the group’s chairman Sharon White, said the company would close a number of stores and one London office, and was unlikely to pay its annual staff bonus next year.

The annual payout - which is the same percentage for everyone from the chairman to Saturday shelf stackers - is regarded as a key part of the employee-owned group’s culture.

The cuts have on the whole been made High Street retailers and in aviation - two of the sectors hardest hit by the coronavirus lockdown.

Jobs to go at Harrods

There are growing worries that unemployment could hit 10% and economists fear redundancies are picking up speed as the Government prepares to pare back the furlough scheme from the start of August.

It follows a 20% contraction in the economy because of the lockdown.

Prime Minister Boris Johsnon has begged bosses to hold off on cutting jobs. He has pleaded with firms to use the furlough scheme and wait until the economy improves before deciding whether to lay employees off.

Boris Johnson has urged firms not to let staff go

He said two weeks ago: "I say to employers to keep supporting your workers with the furloughing scheme, it's much better to wait for times to get better rather than laying people off."

Here’s a table to keep track:

jobs-0.jpg

Job losses have mounted over the last two weeks