Thousands of jobs are set to be axed over the next three months, despite the Government's furlough extension, industry insiders have warned.
More than a fifth of organisations are planning redundancies in the three months to July 2020, up six percentage points on the previous quarter, according to the latest Labour Market Outlook compiled by the CIPD and the Adecco Group.
It comes a week after chancellor Rishi Sunak revealed the UK is facing a "significant recession" after the country was forced into lockdown in March.
According to the report, the number of employers planning to hire more staff has fallen to its lowest level since the quarterly survey began in 2005.