Job cuts expected by more than 50% of UK companies

Just over half of firms (51%) in the UK are considering job cuts, reports the latest British Chambers of Commerce (BCC) Monthly Business Survey, published today.

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The results from 450 companies across the UK also confirm that demand remains low, with not a single business reporting that they will increase stock holdings over the next three months.

However, the report also identified that 20% of UK businesses see growth returning to the UK economy by the end of 2009, while half are more uncertain and do not see growth returning until the first half of 2010.