BRC survey finds finance bosses expect technology to improve productivity, with 69% pessimistic about the economy
UK retailers are planning to cut staff hours and jobs amid rising employment costs and pessimism about the economy.
Almost two-thirds (61%) of finance bosses at retail companies said they planned to reduce working hours or cut overtime, according to the latest survey from the British Retail Consortium (BRC), the trade body that represents most big retailers. More than half (55%) said they would cut head office jobs and 42% said they would reduce jobs in stores.
The potential job cuts are likely to add to pressure for political action on work for young people who are particularly affected by the lower availability of entry-level jobs in retail and hospitality.
The retail sector has shed 74,000 jobs in the past year partly owing to new technology, from AI marketing and stock management tools to automated tills.
