Autumn Budget intensifies redundancy fears – report

New research from law firm Lime Solicitors has found that this year’s Autumn Budget has intensified concerns about job security, with workers in the West Midlands expressing higher levels of anxiety than the national average.

The survey of 2,500 UK adults, including 587 in the West Midlands, conducted immediately after the government’s budget on Wednesday, 26 November, found that 42 per cent of West Midlands workers are worried about being made redundant or losing their job following the Chancellor’s announcements – higher than the national figure of 35 per cent.

Women are slightly more concerned than men (42 per cent vs 37 per cent), and anxiety is highest among 25-34-year-olds (43 per cent) and 35-44-year-olds (44 per cent), followed by 45-54-year-olds (41 per cent) and 18-24-year-olds (34 per cent).

Employment status also plays a role, with 40 per cent of full-time workers and 36 per cent of part-time workers fearing redundancy.

Neha Thethi (pictured), head of employment at Lime Solicitors, said: “The Autumn Budget has highlighted wider economic uncertainties that are affecting both employers and employees.

“For many, the prospect of redundancy or job loss is now a very real concern. Even in sectors not immediately impacted by government policy, workers are understandably reassessing their employment situation and future prospects.

“It’s important for individuals to be aware of their employment rights and options, particularly if their role or industry may be affected. Understanding redundancy processes, notice periods, and available support can make a significant difference in planning for potential changes.”

Concerns also extend beyond redundancy, with 33 per cent of West Midlands workers worried their employer could change their contract, hours, benefits or pay – again above the national figure of 25 per cent.

By gender, 28 per cent of men and 31 per cent of women are concerned, with anxiety highest among younger workers - 42 per cent of 25-34-year-olds, 38 per cent of 18-24-year-olds, 35 per cent of 35-44-year-olds and 31 per cent of 45-54-year-olds.

By employment type, 40 per cent of full-time and 35 per cent of part-time workers are concerned about changes to their working conditions.

Neha said: “While job insecurity can be unsettling, taking practical steps to review contracts, workplace policies, and career options can help people feel more in control.

“Employers, too, should communicate clearly and support their teams to navigate this period of uncertainty.”