A report by KPMG says that over half of firms are planning to make job cuts by the end of the year.

On a brighter note, only 10% believe that there will be a recession.

KPMG (http://www.kpmg.co.uk/news/detail.cfm?pr=3147)

More than half of Britain's businesses plan to make job cuts

60% seek to reduce costs in the wake of the credit crunch
But for, 53% this means cutting headcount

More than half believe the bleak outlook will continue for one to two years
But only one in ten believe a full-blown recession is on the cards

The number of British businesses who are planning on making job cuts in response to the increasingly dour economic climate has almost doubled over the last three months, according to KPMG’s quarterly National Business Confidence Survey.

KPMG’s survey of senior executives in both public and private sector organisations indicates that more than half (53%) now plan to reduce their staff headcount over the coming months, with a similar number (52%) planning to implement recruitment freezes. Back in March 2008 when the same organisations were questioned for KPMG by Opinion Leader Research, only 29% were looking at job cuts as a cost-saving measure.

Heads down, work hard, tighten belts.

We've just lost a member of staff, i doubt they will replace him short term.More work for those that are left.

And lots more people out of work claiming benefits!

And thusly, lots more copies of the Daily Mail will be sold, does the Daily Mail web site have a forum? Maybe all the readers will send the server into overload bitching about out of work benefit "scroungers" :loopy:

And thusly, lots more copies of the Daily Mail will be sold, does the Daily Mail web site have a forum? Maybe all the readers will send the server into overload bitching about out of work benefit "scroungers" :loopy:

It means less everything. People won't have money to buy the daily mail.
It also means there won't be as much money going into the government pot, so benefits are likely to stay the same, or maybe even be reducedd to save money.

ive spoken to two lads today who have gone bust,for seven years they had a car breakers and car repair shop, thanks to some one stealing their recovery waggon and every tom dick and harry cashing in on the scrap trade they can no longer afford to trade,seven years at six days a week ,gone....

I've heard that from September they're planning to give away a free copy of the Daily Mail to jobseekers every time they sign on. That way, not only will they be able to keep in touch with current affairs, they'll also have their self-esteem boosted.

a lot of workers used to get hit with a double whammy where when gas & electric went up the company would come for a pay cut so the firm pulled some money back but the workers had to pay the gas & electric +everything else that rose in price on less money

A report by KPMG says that over half of firms are planning to make job cuts by the end of the year.

On a brighter note, only 10% believe that there will be a recession.

KPMG (http://www.kpmg.co.uk/news/detail.cfm?pr=3147)



Heads down, work hard, tighten belts.

So over half are planning to shrink their own business yet only 10% foresee UK plc shrinking. That comes from the same school as '70% of all drivers think they're above average drivers'.

That's not what it says Tricky. 'only 10% believe that there will be a recession'. Less business is not directly related to predicting a recession.

That's not what it says Tricky. 'only 10% believe that there will be a recession'. Less business is not directly related to predicting a recession.

Sorry Tony, I must be being thick again, but if over half of all firms reduce their staff, then that surely means that they are not expecting to increase their output. If over halve of all firms decrease their output, doesn't that make it extremely likely the the country's GDP will fall?

Or have I got it wrong somewhere?

Sorry Tony, I must be being thick again, but if over half of all firms reduce their staff, then that surely means that they are not expecting to increase their output. If over halve of all firms decrease their output, doesn't that make it extremely likely the the country's GDP will fall?

Or have I got it wrong somewhere?

Maybe they're just expecting half the people to do the same amount of work? Or are planning to cut jobs not directly related to output - admin/marketing jobs, that type of thing?

Tricky, I see your logic but one does not automatically follow the other. It might, but equally it might not. Don't forget that recession needs negative growth, not less growth.

Tricky, I see your logic but one does not automatically follow the other. It might, but equally it might not. Don't forget that recession needs negative growth, not less growth.

The only thing that made me question whether there was going to be a recession was the state of the job market. If people have job security, they'll continue to spend, invest, take risks. The money continues to flow around and people's spending keeps others employed so that they in turn can spend etc etc.

The job security that we've taken for granted for so long is looking less certain now. The implications are serious.

I doubt that the victims of the predicted job cuts will care very much whether what we have is a 'full-blown' or 'half-baked' recession, or even whether it's technically a recession at all.

Millions of people have no significant cash reserves at all..

http://www.guardian.co.uk/money/2008/jul/25/debt.savings

having fallen for the govt. line of 'no more boom and bust'.

Spending power has just been dealt another hefty blow by British Gas who today have announced a whacking 35% rise in prices with immediate effect !!