UK high street lost over 177,000 jobs

UK high street lost over 177,000 jobs

UK high street lost over 177,000 jobs

With another 200,000 layoffs, job reductions are projected to begin throughout the new year.

According to a report that forecasts an even more catastrophic toll on retail jobs this year, the high street will lose 177,000 jobs in 2020, with another 200,000 predicted to be lost. The job losses in what is the largest private employment sector in the UK, with particular significance for women, reflect the drastic and lasting effect on the retail environment that the pandemic would have.

According to new figures from the Centre for Retail Research (CRR) released on Friday, the number equates to 3,400 jobs lost every week in 2020. The CRR described 2020 as one of the most troubled times for the UK high street over the past 25 years, with Debenhams and Sir Philip Green's Arcadia group among the high-profile casualties of 2020.

With Joshua Bamfield, the director of the CRR, estimating that up to 200,000 more jobs could vanish in 2021, about 15,700 stores permanently closed their doors, as the big change to online shopping during lockdown suggests even more difficult decisions about the future of stores.

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