Home Business NewsBusiness Lloyds, Shell and Whitbread among thousands of firms slashing jobs

Lloyds, Shell and Whitbread among thousands of firms slashing jobs

by LLB Editor
29th Oct 20 11:29 am

More than 1,700 firms are planning to cut jobs due to the onslaught of the coronavirus pandemic.

A total of 1,734 employers notified the government of plans to cut 20 or more posts, close to the peak levels seen in June and July – according to data obtained by the BBC through a freedom of information request.

Lloyds Bank, Shell, Virgin Atlantic and the Premier Inn owner Whitbread were among those announcing plans to cut staff. The total number of positions notified as at risk in September was 82,000 – down on the peak in the summer, but three times the level of the previous September.

“What we may be seeing is firms who were intending to bring people back deciding that they can no longer do it because of the worsening economic climate,” said Tony Wilson, director of the Institute for Employment Studies.

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