Companies have put a freeze on recruitment for the rest of the year, according to a new survey.
A study by Manpower reveals that 80 per cent of businesses are not planning to take on any new staff in the next quarter, reports the Daily Telegraph.
It also found that just seven per cent of firms expect to take on more employees, while eight per cent predict they will have to make redundancies.
According to Manpower, the number of companies looking to recruit is at its lowest level for 16 years.
Speaking to the newspaper, Mark Cahill, director of the firm, said: "Many employers anticipated these more challenging conditions and have taken steps to ensure their businesses are as robust as possible."
Such measures include hiring temporary workers to cope with peaks in demand, he added.
However, he did say that the majority of employers are keen to avoid cutting jobs.
In related news, the Confederation of British Industry recently found that 46 per cent of firms now offer people the chance to work remotely.
