Covid: February redundancy plans fall despite lockdown – News 24-7 Live News 24-7 Live
Covid: February redundancy plans fall despite lockdown

Covid: February redundancy plans fall despite lockdown

British firms planned fewer job cuts last month despite many being forced to close by Covid lockdowns.

About 26,600 jobs were put at risk, one-fifth below January’s figure and slightly lower than February 2020.

The numbers suggest that government support schemes have helped prevent the mass redundancies seen in the first lockdown.

The figures from the Insolvency Service were obtained by a BBC Freedom of Information request.

Employers planning 20 or more redundancies have to notify the government via the Insolvency Service by filing a form called HR1.

Because these filings happen at the start of the redundancy process, they give an early indication of labour market changes months before they show up in unemployment figures published by the Office for National Statistics (ONS).

News Source:- BBC

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