1 in 3 UK businesses will cut jobs and relocate if Brexit clarity fails to materialise
A third of British firms are set to take emergency measures such as slashing jobs and relocating offices if there is no Brexit clarity by November, new survey findings have revealed.
According to new CBI research on business preparations, 39% of firms said they would trigger further contingency plans including redundancies, adjusting supply chains outside the UK, stockpiling goods and relocating production and services overseas.
A quarter said they would take such measures in the absence of greater certainty on Brexit by December, whilst 1 in 5 said the point of no return for triggering their plans has already passed.
As we approach "Brexit Day", business owners may be concerned that understanding over the eventual agreement is limited and there is uncertainty over what steps, if any, they can take in preparation. more»