Many workers ‘concerned’ about redundancy

Posted 17/05/2011

Almost three out of ten workers in the UK are worried they may face redundancy in the next 12 months, according to a new study

The survey conducted by HSBC, revealed that older staff members in the public sector are the most concerned, with 37 per cent of those aged over 55 in this area feeling insecure in their jobs.

In the medium term, this grows further, with almost half of older employees in public sector jobs believing their position may be at risk in the next three years.

Senior saving product manager at HSBC Richard Brown said: “We are in a difficult financial period with many people feeling insecure about their job prospects.”

“While this feeling of a lack of job security is particularly acute among older people in the public sector, everyone seems to be feeling the squeeze on their finances.”

Last week, the government announced it will make reforms to employment law in order to reduce the bureaucracy businesses making redundancies currently face.