Fears of huge job losses as government winds down furlough scheme
Reading now: 108
mirror.co.ukA wave of job losses is feared when the Government begins winding down its furlough scheme for millions of workers hit by the Covid-19 crisis.
Chancellor Rishi Sunak has tried to reassure more than six million people getting the wage bailout that the scheme will not end on a “cliff edge”.
Currently, the Coronavirus Job Retention Scheme is due to run until June 30. One option being considered by the Treasury is “tapering” the current 80% of workers’ wages paid by the state to 60% initially, then further cuts over time.
But with around a quarter of the UK’s entire workforce furloughed, there are concerns that pulling the plug will lead to large-scale redundancies.
Read more on mirror.co.uk
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
