Third of firms expecting job cuts

A THIRD of companies are expecting to cut jobs over the next few months with well over half of construction firms planning to lay off workers.

According to the latest survey from small business group, ISME, just over one in 10 firms are planning to increase employment in the coming months.

Despite the high number of firms looking to cut jobs, small firms are shedding jobs at a slower pace than this time last year. One in two companies expect a deterioration in business conditions over the next 12 months and two thirds said the current economic environment is threatening their viability.