The Chartered Institute of Personnel and Development (CIPD) has reported a sharp decrease in employer confidence across UK companies, the lowest since the pandemic. Out of 2,000 firms surveyed, over a third are considering reducing their workforce or hiring fewer employees. Additional findings indicate that 42% plan to raise prices, while a quarter are reconsidering business investment plans. CIPD Chief Executive Peter Cheese highlighted these shifts as the most significant in a decade, particularly affecting sectors like retail and hospitality anticipated to suffer from rising employment costs as employment indicators decline.
Companies are facing significant employer confidence issues, with many planning redundancies and scaling back investment due to rising employment costs.
Peter Cheese noted that changes in employer sentiment are the most significant seen in a decade, impacting major sectors like retail and hospitality.
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