Written by Mattie Storrin, freelance HR correspondent

More employees fear losing their jobs this year amid a challenging economic environment, according to research from recruiter Randstad UK.

More than four in every ten workers (42 per cent) told Randstad UK they now feared losing their jobs, compared to fewer than three in ten (28 per cent) a year ago.

The growing fear of job cuts in the UK contrasts with the confidence of workers in the US, where only 20% are worried about redundancies.  In Japan, fears are more muted still, with only 18% of workers being worried by the threat of redundancy.  Elsewhere in Europe, only 36% and 37% of workers in Portugal and Poland are worried by the threat of job losses respectively.

Randstad researched the views of 27,000 workers from 34 markets across Europe, Asia Pacific, and the Americas. 

Victoria Short, Randstad UK’s chief executive said: “It’s clear the jobs market is cooling with recent UK wage data softer than expected on top of news inflation rose in December.  There’s growing anxiety among workers here amid the continued cost of living crisis and pressures on employers.  Career-wise we are entering the most challenging time for most since the pandemic. You will see more anxiety in the workplace this year.”