Coronavirus Job Retention Scheme Begins to Unwind

From 1 September, companies using the Coronavirus Job Retention Scheme (CJRS) will now have to contribute 10% towards furloughed employees’ wages, rising to 20% from 1 October as the scheme unwinds.

Gambit's CJRS Summary outlines the changes to Government contributions, required employer contributions and the amount received by the furloughed employees as the scheme unwinds.

Utilisation of the CJRS has been significant, with 9.6 million employees furloughed by 1.2 million employers since March. One in 12 workers remain furloughed.

The increased cost and eventual conclusion of the scheme poses difficulty for employers, with many expected to make redundancies in the coming months.

During this time of uncertainty, we can all benefit from increased communication, the sharing of ideas and seeking advice where needed. If you would like to set up a call to discuss the challenges facing your business, please contact a member of the team.

Share on:

Subscribe to receive our latest sector bulletins, thought leadership articles, deal completion reports and newsletters.

Read another insight

Gambit Corporate Finance’s Human Capital M&A Market Review highlights significant competitive tension within the Human Capital market as both strategic...
Gambit Corporate Finance LLP’s Software and IT Services (SITS) Q223 M&A Market Review highlights the SITS M&A market’s resilience in...
Gambit Corporate Finance  has acted as lead financial advisor to Spectra Group (UK) Limited, in securing a new funding facility...

Search Gambit Corporate Finance