US Edition
Retail warns of high price for workers from government costs ahead
Rising employment costs increased entry-level worker expenses by 10%, causing 61% of retail finance chiefs to plan cuts in hours and overtime, the British Retail Consortium said.
- Retailers warned the British Retail Consortium they may reduce staff hours and roles, with 61% of retail CFOs and finance directors planning to cut hours and overtime.
- A £5 billion rise in annual employment costs last year pushed retailer expenses up after increases to employer National Insurance Contributions and the National Living Wage, raising full-time and part-time entry-level workers' costs by 10% and 13%.
- The BRC survey found 55% planning head office reductions and 42% targeting store roles, while 69% of bosses expressed pessimism about the sector's future.
19 Articles
19 Articles
Sky News UK
Great Yorkshire RadioRetail warns of high price for workers from government costs ahead
An industry body reports growing pessimism among those holding the purse strings following a year of job losses across the sector, cuts widely blamed on policy decisions.
Workers to see staff hours cut due to Rachel Reeves pushing employment costs up, retail bosses warn
Retail bosses across Britain are preparing to slash staff hours and overtime as employment costs continue to surge, according to new research from the British Retail Consortium (BRC).The survey of chief financial officers and finance directors found that nearly two-thirds, around 61 per cent, intend to reduce working hours for their employees due to Chancellor Rachel Reeves pushing employment costs up.Industry leaders have also signalled they ma…
One News Page
City AMRetail jobs at risk from Labour’s employment reforms
Retailers could cut hours and make redundancies as a result of Labour’s Employment Rights Act, a survey of business leaders has found. Employment costs have shot up the list of concerns cited by retail chief finance officers (CFOs) and finance directors since the start of the act’s ...
Evening Standard
Retailers looking to cut staff hours due to high employment costs, bosses warn
A survey found 61% of retail CFOs (chief financial officers) and finance directors plan to ‘reduce number of hours and overtime’ for staff.
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