Retail jobs at risk from Labour’s employment reforms

cityam

Feb 19

Employment costs are spooking retail bosses Retailers could cut hours and make redundancies as a result of Labour’s Employment Rights Act, a survey of business leaders has found. Employment costs have...

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have...</p>\n\n<a href=\"https://www.cityam.com/retail-jobs-at-risk-from-labours-employment-reforms/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BRC","symbol_name":"布雷迪","start_time":0,"source_url":"https://www.cityam.com/retail-jobs-at-risk-from-labours-employment-reforms/","article_id":"2612477521","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2025/01/GettyImages-2178500566-e1737115042903.jpg?w=286&h=161&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/retail-jobs-at-risk-from-labours-employment-reforms/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2612477521","pubTimestamp":1771459260,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Employment costs are spooking retail bosses Retailers could cut hours and make redundancies as a result of Labour’s Employment Rights Act, a survey of business leaders has found.Employment costs have shot up the list of concerns cited by retail chief finance officers  and finance directors since the start of the act’s implementation, according to a survey by trade body British Retail Consortium .More than half of CFOs polled by the BRC  plan to reduce working hours or overtime, and 55 per cent said they will reduce office headcount, while 44 per cent plan to cut jobs in stores.Helen Dickinson, the BRC’s chief executive, said the government’s Employment Rights Act could “make or break job opportunities” and warned Labour to implement it carefully.CFOs are increasingly downbeat about the retail industry, with 69 per cent saying their outlook is either “pessimistic” or “very pessimistic,” up from 56 per cent in July, when none said they were “very pessimistic” about the sector.Retail firm","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BRC":"布雷迪","LU2065732104.USD":"ALLSPRING (LUX) WF GLOBAL SMALL CAP EQUITY \"I\" (USD) ACC","BK4087":"商业印刷"},"translate_title":"零售业工作因工党就业改革而面临风险","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BRC":1},"content_text":"Employment costs are spooking retail bosses Retailers could cut hours and make redundancies as a result of Labour’s Employment Rights Act, a survey of business leaders has found. Employment costs have shot up the list of concerns cited by retail chief finance officers (CFOs) and finance directors since the start of the act’s implementation, according to a survey by trade body British Retail Consortium (BRC).More than half of CFOs polled by the BRC (61 per cent) plan to reduce working hours or overtime, and 55 per cent said they will reduce office headcount, while 44 per cent plan to cut jobs in stores.Helen Dickinson, the BRC’s chief executive, said the government’s Employment Rights Act could “make or break job opportunities” and warned Labour to implement it carefully.\n\nCFOs are increasingly downbeat about the retail industry, with 69 per cent saying their outlook is either “pessimistic” or “very pessimistic,” up from 56 per cent in July, when none said they were “very pessimistic” about the sector. \n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAs in July, none of the retail chiefs surveyed by the BRC said they felt “very optimistic” about trading conditions in the sector. Labour and employment appeared in 84 per cent of CFO’s top three concerns, up dramatically from just 21 per cent in July. This is followed by falling demand (77 per cent), rising input costs (39 per cent) and the growing tax and regulatory burden (29 per cent).\n\nRetail firms fear that some reforms in the Act, such as guaranteed hours, could increase costs and lead to fewer entry-level roles being advertised.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}