Most Firms In Pay And Recruitment Freeze

(Press Association) – MOST FIRMS HAVE FROZEN RECRUITMENT AND PAY, while many plan to transfer work overseas as part of ‘dramatic’ responses to the recession, according to a new report.

A survey of 700 firms showed that more flexible working hours, extended shut-downs, extra holiday and cuts in paid overtime have become more commonplace as the recession has deepened, forcing businesses to cut costs.

The CBI and recruitment firm Harvey Nash said its poll revealed that almost two thirds of employers had made or were considering significant changes to the way they organized their workforce because of the economic slump.

A quarter of organizations said they planned to transfer work overseas in response to the UK’s downturn, especially in the science, hi-tech and computer sectors, partly because of skills shortages.

John Cridland, the CBI’s deputy director general, said: ‘This has been a particularly bruising recession, but one of its most positive and striking aspects has been the commitment of many businesses and their staff to work together to try to trim costs and save jobs.’

… (02/07/2009) – More Job Cuts On Their Way

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