UK firms mull biggest layoffs in a decade as business confidence slumps

The British Beer and Pub Association says the autumn statement will add £650m in costs for the sector. It claimed six pubs closed every week last year. Photograph: Michael Kemp/Alamy

UK employers are preparing for the biggest redundancy round in a decade amid collapsing business confidence as firms brace for tax increases from April that Rachel Reeves announced in her autumn budget.

In a fresh blow for the chancellor, the Chartered Institute of Personnel and Development (CIPD), which represents human resources professionals, said a survey of 2,000 employers showed redundancy intentions at their highest level in 10 years, barring the Covid pandemic.