Job loss risk for older staff
Older workers could be worst affected by the expected rise in redundancies over the coming months, the Chartered Institute of Personnel and Development (CIPD) has warned.
A survey by the organisation revealed a quarter of employers had made plans for redundancies with most expecting to have put these in place by the end of January.
John Philpott, chief economist at the CIPD, said: “The onset of recession is already putting jobs at risk but many more are in the firing line as employers consider their next move in a fast deteriorating situation.”
Many employers intended to target those aged over 65, who can be made redundant without having to provide a business reason, the research suggested.The organisation has called for a further cut in interest rates to relieve the pressure on struggling businesses.