Jobs axed at second-fastest pace since global financial crisis, PMI survey shows

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Jobs axed at second-fastest pace since global financial crisis, PMI survey shows

British businesses cut jobs last month at a rate not seen outside the pandemic since 2009, as many companies looked to head off the impact of higher employment taxes and the rise in the National Living Wage due in April. New flash data from S&P Global’s UK purchasing managers’ index (PMI) revealed that private sector employment fell sharply in February, with nearly one in three businesses reporting lower staffing levels. Those respondents direct…