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2024-08-04 07:00:36 +0300

The Great Resignation Could Soon Be the Great Sacking

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Bloomberg
By Sommer Saadi

The tide is turning in the UK jobs market. Earlier this year, a shortage of skilled workers after the easing of lockdown restrictions meant employees had the upper hand. Sizeable pay rises were up for grabs and employers were offering massive bonuses in a desperate attempt to retain talent. But the mass exodus of workers leaving their jobs, dubbed The Great Resignation, may be coming to an end. Early signs show a change underway, thanks to the pinch of rising inflation and the cost of living crisis. The most recent business barometer from Lloyds Banking Group found the rate of businesses planning to hire staff slowed to its softest pace since last year.

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