Firms plan to trim hiring as living wage costs rise

More than a third of businesses have had to increase their wage bills since the introduction of the national living wage in April, a new report out today says.
The survey of more than 1,600 business leaders in the UK by the British Chambers of Commerce (BCC) shows “that many companies affected by the introduction of the national living wage have already changed their recruitment plans or planned to do so in the near future”.
Many firms would have to change their business models by increasing prices and reducing staff Marcus Mason The BCC said 25 per cent of firms affected had cut... read more