53% manufacturing firms are planning to make redundancies in next six months, finds survey

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23rd July 2020 12:54 - Industrial

53% of manufacturing firms are planning to make redundancies in next six months: As the global coronavirus crisis continues, a survey has found that more than half the manufacturers questioned in an industry poll said that they are planning redundancies in the next six months - this is despite seeing a gradual increase in sales and orders. 

This is the latest survey by Make UK, which reveals the proportion of manufacturing companies planning redundancies has continued to increase over the last eight weeks, from 25%, and then 42% - and to 53% in the latest poll. 

When asked more about the redundancies that companies are planning to make, the survey found that just under 8% of firms are planning to let go between a quarter and a half of their employees, while nearly a third (32%) said their plans will see between 11% and a quarter (25%) of employees face redundancy. 

Make UK is calling on the Government to grant an extension to its furlough scheme for six months, specifically for the automotive and aerospace sectors.

The research found that the number of manufacturers  expecting  to see a return to 'normal trading' has increased , with over two-fifths (42%) believing it will take a year or more - up from a third in the previous survey. 

When asked about the capacity firms were currently running at the survey revealed just 15% are running at capacity, with 19% running at between a quarter and half. Almost a third revealed they were operating at between a half and three-quarters capacity.

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