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50% of businesses consider pay freeze
Half of employers in the UK are planning to freeze pay completely in 2010, according to data released by the Confederation of British Industry (CBI).
However, the CBI's survey also revealed that hiring freezes are starting to thaw, with the number of firms operating a recruitment freeze dropping from 61% in the spring to 37%.
"The worst of the recession may be over but firms remain ultra cautious about increasing pay. Market conditions continue to be very tough and growth in 2010 will be feeble, so pay is going to be squeezed for some time to come," said John Cridland, CBI Deputy Director-General.
Post Date: November 16th, 2009
However, the CBI's survey also revealed that hiring freezes are starting to thaw, with the number of firms operating a recruitment freeze dropping from 61% in the spring to 37%.
"The worst of the recession may be over but firms remain ultra cautious about increasing pay. Market conditions continue to be very tough and growth in 2010 will be feeble, so pay is going to be squeezed for some time to come," said John Cridland, CBI Deputy Director-General.
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Post Date: November 16th, 2009
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