British manufacturing giant JCB has decided to delay converting 500 agency workers to permanent roles due to "challenging market conditions" following the Chancellor's recent tax-raising Budget.
JCB's initial plan to provide permanent contracts amid rising National Insurance contributions has been postponed by at least six months, which has drawn criticism from union leaders.
The GMB union representing affected workers decried JCB's decision as "unacceptable" and emphasized that securing permanent contracts for low-paid workers is a key priority for trade unions.
Following the Chancellor’s tax increases, the S&P Global purchasing managers' index for manufacturing fell to 47, indicating a significant drop in confidence and the anticipation of a downturn in factory orders.
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