If you’re a furlough employee, you’re probably worried about what will happen to your employment once the scheme is finished. If your employer can’t afford to keep you on, they’ll have to decide whether to reinstate furloughed employees or fire them.
Until the scheme formally ends on the 30th of September, these are some of the changes:
➥ Furloughed staff will continue to get 80% of their earnings for the hours they are not working, up to a maximum of £2,500 per month.
➥ Employers must now pay 10% of their furloughed employees’ salary beginning July 1, with the government covering the remaining 70%. The government payment will be reduced to 60% in August and September, leaving businesses to cover the remaining 20%.
➥ Despite the fact that the furlough has been extended four times since its inception, it appears doubtful that it will be prolonged beyond September.
While furloughs have helped millions of people keep their jobs in Covid-19, many businesses are still struggling to recover from a difficult year.
Unfortunately, this may imply that some firms will be unable to afford to keep some employees after the furlough period ends.
Can you see yourself struggling financially and don’t want to give up your home? Please call our team for a no-obligation free chat, we may have the skills to help.
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