More than 1 million jobs cut this year

More than 1 million jobs have been cut this year across several industries, with many companies downsizing their teams, resulting in redundancies.

Redundancies can be incredibly challenging, and Ben Wright, Global Head of Partnerships at Instant Offices, has outlined the early indicators that one may be on the way and how employees can prepare in advance.

Suddenly, there’s no budget for training, software, travel, or development. When a company begins cutting these areas, it’s often a sign that they’ve entered cost-saving mode.

If a company stops replacing colleagues who leave who either on their own accord or are getting let go, it’s a strong indication that something is brewing. Hiring freezes are often one of the earliest signals of financial pressure.

When departments start merging or teams are reshuffled, it may be part of a genuine, planned change to improve performance and profitability. However, restructures are normally phased, communicated in advance, and carefully thought through. If it feels sudden or random, it may indicate the company is assessing which roles are essential and which could be cut.

If you’ve been following the news, you may have noticed several articles highlighting challenges in your specific industry. When the broader landscape is under pressure, there’s a strong chance your company is feeling the effects as well.

When companies are under financial strain, some may turn to indirect tactics that push employees to leave on their own. Two examples of this are quiet firing and quiet cutting.

• Quiet firing occurs when an employer makes an employee’s work life increasingly difficult, reducing support, opportunities, or resources to encourage a voluntary resignation and avoid the formal redundancy process.

• Quiet cutting involves reassigning or marginalising employees’ roles in a low-visibility way rather than issuing layoffs.

Both practices can lead to confusion, resentment, and an increased workload for employees who receive little clarity or recognition.

“If you’re noticing these signs, the best call to action is to strengthen your position. Update your CV, take external courses, upskill, and build your network. Who you know can be as valuable as what you know, and being proactive means you won’t be scrambling if the situation escalates.

Of course, these are only indicators, not guarantees. A good workplace will be transparent about finances, communicate early if redundancies are on the horizon, and provide a clear plan months in advance. And regardless of what happens, investing in your skills, CV, and network is always beneficial for future growth. Companies are also legally required to follow rules for redundancies, including consultations, notice periods, and redundancy pay.”