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SMEs ‘cutting fewer jobs’

The number of small and medium-sized businesses that have made job cuts in the last six months has fallen, according to research by Clifton Asset Management (CAM).

The data shows that 26% of firms have been forced to shed jobs over the past six months, down 2% on the previous quarter's figures.

However, the latest study, carried out among 1,000 small business owners, also shows that the number who say they will have to reduce their payroll further in the coming six months is up, from 12% to 15%.

"While it is encouraging to see that fewer firms have shed jobs in the last six months, it is worrying that more job cuts are on the way, with the employment situation set to lag behind any general economic recovery," said Anthony Carty, a director at CAM.

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Post Date: February 11th, 2010