Thirty-five per cent of UK organisations are planning redundancies or considering job cuts this year, according to new research.

Of the UK organisations contemplating a reduction in headcount, 62 per cent were in service-based industries, the survey revealed.

Employers taking part in the pan-European study were also asked about their pay budgets. Only 6 per cent expected their total wage bill to decline in 2013, while 60 per cent predicted an increase.

The report, Aon Hewitt 2013 Salary Increase Survey – Winter Update, showed that pay settlements would continue to be broadly stable at 3 per cent – in line with the Retail Prices Index (RPI).

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