UK Retail Sector Predicted To Cut 900,000 Jobs

by MR Magazine Staff

The retail sector, one of the UK’s largest employers, is facing up to 900,000 job losses and the closure of thousands of shops in the next decade, according to a report by an industry body. The British Retail Consortium (BRC) warns that rising costs due to the “national living wage” and the apprenticeship levy – both introduced by George Osborne in last year’s budget – could increase the rate of job cuts. The BRC, which represents retail companies, stated: “Both have sound intentions but could fail on implementation. Together these effects could mean there are as many as 900,000 fewer jobs in retail by 2025 but those that remain will be more productive and higher earning.” Read more at The Guardian.