Nearly half of UK businesses considering redundancies in 2023 according to new research A new LHH global survey of over 2,500 HR Directors at large companies reveals that the majority are planning on laying off staff or going on a hiring freeze this year LONDON, 26th April 2023 – Nearly half (43%) of UK businesses have recently completed or plan to make layoffs and redundancies in 2023, according to new research from LHH, the world’s leading talent development and career solutions company. A further 29% of UK businesses admitted that they are unsure at this point if they will be making redundancies, and 18% said while they have no plans to layoff staff, they are on a hiring freeze. Just 8% of UK businesses confirmed that they will definitely not make any redundancies this year and are not on a hiring freeze. The research was conducted for LHH via an independent survey by Censuswide of over 2,500 HR Directors at companies with over 500 employees, across the UK, USA, France, Canada and Australia. 500 HR Directors from the UK were surveyed. Almost half (47%) of UK companies considering redundancies this year said that more than a fifth of their workforce could be subject to layoffs. 14% even revealed plans to let over 30% of their workforce go, and 34% said they have plans to layoff between 11-20% of their workforce. The research follows workforce disruption in sectors such as technology, where some of the industry’s largest players have collectively laid off over 150,000 workers in response to slow economic growth and a need to cut costs. THE MONTHLY ROUND-UP
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