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More than 125,000 High Street jobs axed in first eight months of 2020

More than 125,000 High Street jobs have been axed in the first eight months of 2020

More than 125,000 jobs have been axed on Britain’s high streets in the first eight months of 2020, a shock report reveals.

The pandemic has also led to 14,000 shops shutting, the Centre for Retail Research said.

It thinks job losses will climb to 235,700 this year, and store closures will reach 20,620. Retail employs 3.2m people in the UK.

Lay-offs: The Centre for Retail Research said thinks job losses will climb to 235,700 this year, and store closures will reach 20,620. Retail employs 3.2m people in the UK

It came as Pizza Hut said it will shut 29 of its 240 restaurants, putting 450 jobs at risk and fashion chain Quiz will close a fifth of its stores, costing 90 jobs.

Overall, 730,000 people lost their jobs between March and July and economists believe unemployment will rise to 3.5m this year.

Helen Dickinson, of the British Retail Consortium, said: ‘Coronavirus is continuing to have a devastating effect on businesses. 

Government must ensure a more sustainable long-term tax system. The job losses may be the tip of the iceberg.’

Read more at DailyMail.co.uk


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