Pessimism reigns in UK businesses as a quarter expect job cuts

LONDON, ENGLAND - MARCH 19: A sole member of the public walks near the Lloyds of London building at what would be rush hour on March 19, 2021 in London, England. A year since the British government issued its first stay-at-home order in response to the Covid-19 pandemic, on March 23, 2020, the City of London is still a ghost town of shuttered shops and restaurants, scarcely populated offices, and negligible tourist traffic. Even as the UK prepares to ease the current lockdown measures, a sense of normality in the city's historic financial district feels a long way off. (Photo by Dan Kitwood/Getty Images) — Around half of the businesses surveyed said they had struggled to service debt payments within the past year. Photo: Dan Kitwood/Getty Images

A quarter of UK workplaces expect to reduce headcount next year and a third said they already have, according to study by consultancy firm PriceWaterhouse Coopers.

The forecasts come despite two-thirds saying in the PwC survey they expect revenue to return to pre-COVID levels within two years.

The research found that with the withdrawal of the job support scheme, staff cuts could be even higher.

The poll of 400 British executives also found that more than half (55%) of UK businesses expect to be saddled with debt on their balance sheets within a year, as earnings fail to keep pace with the rate of spen…

Read the full article at: https://au.news.yahoo.com/pw-c-work-job-cuts-report-business-optimism-155232835.html

Pessimism reigns in UK businesses as a quarter expect job cuts – Yahoo News Australia

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