Story perspectives

UK Businesses Brace for Rising Costs and Workforce Changes

1/24/2025

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Summary

Story summary

UK businesses will encounter higher employment costs in 2025 from increased national insurance and the national living wage.
Shoe Zone is closing stores, while Next is increasing prices to offset rising expenses.
CFOs are focusing on cost control, limiting hiring, and leveraging AI to reduce workforce size.
Effective workforce management requires collaboration between finance and HR departments.
Companies are exploring non-monetary incentives and automation to retain employees and enhance recruitment efficiency.

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Story summary

UK businesses will encounter higher employment costs in 2025 from increased national insurance and the national living wage.
Shoe Zone is closing stores, while Next is increasing prices to offset rising expenses.
CFOs are focusing on cost control, limiting hiring, and leveraging AI to reduce workforce size.
Effective workforce management requires collaboration between finance and HR departments.
Companies are exploring non-monetary incentives and automation to retain employees and enhance recruitment efficiency.