Pay freeze 'can help prevent redundancies'

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Pay freeze 'can help prevent redundancies' /resources/news/employer-news/1154-Pay-freeze-can-help-prevent-redundancies

Home > News & Resources > News > Employer News > Pay freeze 'can help prevent redundancies'

Pay freeze 'can help prevent redundancies'

Employees in the UK could avoid redundancy if they have their salary frozen, an expert has stated.

According to a new study by Incomes Data Services, about one in three companies are looking at freezing pay.

John Grange, an adviser at Business Link, said he believes this could be a positive step towards preventing job losses.

However, he stated that salary freezes should not be considered as the only way of preventing redundancies and need to form part of a wider strategy.

Mr Grange noted that pay freezes appear to be taking place in a wide variety of businesses, thereby affecting a large range of people.

"I don't think it is specific to any individual or sector," he commented.

Mr Grange added that since many businesses have seen a drop in demand, their costs are outweighing their income.

As a result, companies are looking at wage costs to help them "buy time". ADNFCR-2347-ID-19398356-ADNFCR