Large-scale redundancies planned by 35% of multinational firms

One in three multinational employers is planning a jobs cull, according to a report.

The survey of 1,000 HR and finance professionals by consultancy Mercer found that 35% expected to make “significant reductions” in their workforces.

Manufacturing and technology workers look likely to be the hardest hit, with 48% of respondents in those sectors expecting to reduce their workforces significantly.

Meanwhile, just 24% of those at professional services firms, and 28% in retail and wholesale, expected a heavy-handed swinging of the axe.

Patricia Milligan, Mercer’s chief markets officer, said: “While there may not be significant reductions across the workforce in some industries, our experience indicates that many companies are trimming staff selectively and strategically, by reviewing staffing in specific workforce segments, business units or geographies.”

UK unemployment has been soaring in recent months due to the global economic downturn, and has been predicted to hit 2m by Christmas.