Planned redundancies fall despite end of furlough approaching
The number of proposed job redundancies in the UK fell to a seven-year low in August despite the furlough scheme ending on 30 September.
Figures published by the Insolvency Service show employers expected to make 12,687 job cuts last month, down from 14,078 in July.
Planned redundancies have been gradually falling since the start of the year, having peaked at
155,576 in June 2020.
Companies are required to notify the Insolvency Service if they plan to make 20 or more employees redundant.
The government’s Coronavirus Job Retention Scheme – also known as the furlough scheme – is due to be wound up on 30 September. It protected millions of jobs during the pandemic.
When the scheme ends, employers will have to decide whether to take back furloughed workers or make them redundant.
The latest government figures show that 1.9 million people remained on furlough as of the end of June.