"New figures obtained via a Freedom of Information request to the Insolvency Service show redundancies across the UK have risen by 45 per cent since 2021, underlining a sustained increase in workforce reductions. Richard Hunt, director at Liquidation Centre, warned that up to 327,000 workers could lose their jobs in 2026, a level of job losses that would approach those seen during the 2009 financial crisis."
"The warning comes after 736 employers filed redundancy notices in the first two months of this year alone, affecting more than 56,000 roles. That represents an 8.5 per cent rise on the same period last year, while 2025's total of 315,605 potential redundancies was already the highest since the pandemic."
"Businesses are already contending with a range of pressures, including rising operating costs, weaker consumer demand, wage inflation and policy changes affecting taxation and employment costs. Concerns are now growing that the economic impact of the Iran conflict could further intensify the downturn, particularly through higher energy costs and disrupted trade routes."
UK redundancies have surged 45 percent since 2021, with 736 employers filing redundancy notices in the first two months of 2026 affecting over 56,000 roles. Projections suggest up to 327,000 workers could lose jobs in 2026, matching 2009 financial crisis levels. Multiple pressures compound the crisis: rising operating costs, weak consumer demand, wage inflation, and policy changes affecting employment costs. The Iran conflict poses additional risks through potential energy price increases and disrupted trade routes, particularly via the Strait of Hormuz, which handles one-fifth of global oil supplies. Government officials acknowledge potential labour market implications from geopolitical tensions and economic uncertainty.
Read at London Business News | Londonlovesbusiness.com
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