RTTNews reports that according to an annual survey conducted by the Confederation of British Industry, nearly half of the UK firms plan to either reduce or not recruit at all over the coming year.

About 47% plan to maintain or increase recruitment, compared to 45% of respondents who expect to reduce recruitment or stop hiring altogether. Further, a balance of +7% of respondents expect that their workforce will be larger in 12 months' time, compared to a balance of +28% in last year's survey.

With ongoing social distancing, higher costs, lower demand, local lockdowns and fears of a second wave, firms are tempering their recruitment plans, Matthew Fell, CBI chief UK policy director, said.

Businesses are focusing on bolstering their efforts to protects jobs and livelihoods, from cutting hours and reducing bonuses to restructuring, he said.