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COVID-19: Employers asked to stick by their employees whilst employment and wage subsidy package is finalised

20 March 2020
Chancellor, Rishi Sunak, is expected to announce the latest fiscal attempt to help protect UK businesses imminently. 

Drastic steps are being taken by employers as many businesses have warned that the impact of the pandemic will lead to collapse.  From lay-off and short-time working to unpaid leave and redundancies, employers have been taking urgent measures to try and limit the impact of the coronavirus.  

However, the Prime Minister has urged business to "stick by their employees, because we're all going to need them".  This message is a precursor to the latest fiscal measures to help pay wages, which is expected to be announced later today.  

Other countries have taken similar steps to help guarantee a percentage of wages, in return for not letting staff go.  

We are advising clients that if they possibly can, stop any announcements on lay-off, short-time working or redundancy until these plans emerge.   The indication is that help is at hand.

We will keep you updated.  

 

To read more about what we expect from the Chancellor's Wage Subsidy, click here >