13 October 2010 #Employment
Close to a million people are predicted to lose their jobs in the next four years as a result of budget cuts expected in the Government`s Comprehensive Spending Review, which will be announced next week.
Accountancy firm PWC estimates that about 500,000 of those job losses may be in the private sectors who supply the public sector. The industries likely to be hardest hit are business services and construction.
The Report by PWC lists that the worst hit areas will be the South East of England, the North West and Scotland, but that in percentage terms, Northern Ireland would suffer most with one in every 20 jobs set to go.
Bosses can try and curb the effects of the cuts by thinking of alternatives to redundancy, such as laying off staff for short periods or people working fewer hours or for lower wages. Flexible working may well be the key to sustaining economic recovery, despite the budget cuts.
Employmentbuddy would be interested in hearing from any members who consider they will be drastically affected by the proposed spending cuts and what measures they are considering taking to curb the effects. Why not blog your comments on our forum.