One in five firms planning to cut pay

A survey by the Chartered Management Institute has found that 18% of its members have introduced pay cuts due to the impact of coronavirus. A further 30% said pay cuts had not been made yet, but would be considered if they are thought to be necessary for the survival of the business, while just over half would not consider pay cuts under any circumstances. Respondents identified a second national coronavirus lockdown as their biggest concern going forward, with 63% saying it is their biggest concern, compared to 27% who are most worried about the Brexit transition period ending without a trade deal.

Read more: The Times