March 26th, 2020 / Insight posted in Articles

Coronavirus job retention scheme: What does it mean for businesses and employees?

As businesses are ordered to close and employees to stay at home, the government is attempting to protect the wages of those affected with the coronavirus job retention scheme (CJRS).

The CJRS offers employers access to up to 80% of wage costs capped at £2,500 per month for each furloughed employee.

The scheme aims to enable employers to retain staff who will be needed when they begin to rebuild their businesses in the future.