The number of employers seeking help with making redundancies has risen by almost one third, the Chartered Institute of Personnel and Development (CIPD) reports.
Figures from September show a 28% increase in enquiries on the CIPD’s legal helpline, which deals with calls from HR managers. Of the 2,051 calls logged, 303 were related to redundancy, up from 236 in August and double the 142 recorded in September last year.
John Philpott, the CIPD’s chief economist, said that the helpline statistics are another worrying sign that the credit crunch is set to take a bigger toll on jobs:
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“A significant decline in the demand for labour this winter now seems clear, which strengthens the case for the Bank of England’s Monetary Policy Committee not only to cut interest rates tomorrow at the end of its monthly meeting, but to cut big.”
Thousands of job cuts were announced yesterdayafter Monday’s stockmarket panic wiped £93bn off of FTSE’s top shares.
