Daily Insights for
Business Leaders

Crisis | What is furlough and how does it work?

What is furlough and how does it work?

From relative obscurity just weeks ago, the term furlough has suddenly dominated the public lexicon. You’ll see it splashed all over newspaper headlines, printed across Government updates and probably mentioned in workplace conversations, but what does this weird term actually mean?

In early March, the Government and specifically Chancellor Rishi Sunak, announced that it would put in place measures to ensure that the vast rate of widespread redundancies across the UK were halted as the country dealt with the initial wave of infections due to coronavirus. The solution that the Government devised essentially replaced the concept of redundancy with a ‘furlough’ – AKA the ability to keep staff on the payroll, yet for them to take extended leave as the company’s business shrinks.

Access all our great content with a FREE myGrapevine account

  • Personalise your topic feed
  • Free access to premium content
  • One-click registration for webinars and downloads
  • Save your favourites
  • Exclusive offers

Sign up to continue reading FREE content

For news, offers & events, direct to your inbox enter your details below.


I would also like to receive news, offers and events from:
Register

* By registering you agree that you have read and agree to our Terms and Conditions and that Executive Grapevine International Ltd and its partners may contact you regarding relevant content and products.

If you find yourself asked to register again, please make sure that your browser cookie is enabled.

We would like you to become part of Executive Grapevine and join one of the fastest growing and engaged online communities of Business Leaders and Entrepreneurs in the UK. Thousands of our readers, people just like you, have already registered with Executive Grapevine and we would like you to join in - its FREE!

However, an EU regulation coming our way means that to continue hearing from us, you will need to become a registered user. No matter the outcome of BREXIT, this regulation will apply to us while we remain in the UK and perhaps beyond.

Access across the Executive Grapevine site will continue to be free of charge once you register.

Every reader we retain, is very important to us, and we would appreciate you taking the time to Register with us now.

Related Content

New data shows shocking workplace equality stats
Executive Grapevine | Executive Grapevine International Ltd

Gender pay gap | New data shows shocking workplace equality stats

Feature
3 mins read

Most Read This Week