Gifts Today magazine

Shops facing massive job losses

900,000 UK retail jobs could be lost by 2025, warns BRC

The retail sector is facing the loss of up to 900,000 jobs and the closure of thousands of shops in the next ten years.

A British Retail Consortium (BRC) report says that rising costs due to the National Living Wage and the new apprenticeship levy could speed up job cuts.

The pair are two of George Osborne's flagship policies announced in last year's Budget.

The study says "economically fragile" parts of the UK will be hit hardest.

The National Living Wage and apprenticeship levy "both have sound intentions but both could fail on implementation", it says.

Sir Charlie Mayfield (pictured), the chairman of the British Retail Consortium and head of the John Lewis Partnership, said that although retailers supported the introduction of higher pay, there would be an effect on employment.

The retail sector employs three million people - a number that could fall by nearly a third in less than ten years.


Social Links