Charlie Ryan comments: “As much as I am disappointed to know the choice has been to exit, I would ask the media and the country to take care in terms of the communication and polling going out on job cuts etc. In a time of uncertainty, as a country, we tend to go into “baton down the hatches” mode and it is this kind of thinking and communication which will talk us into another recession. The country will survive as all things do in a time of crisis, so let’s not make it more difficult to deal with by taking defensive business decisions. In any time of crisis or recession, it is the companies who continue to invest and grow who survive difficult times. As much as we have been pulled apart by the choice that has been made, lets now pull together in business, to show how we will push through this economically and commercially and that we will continue to make our decisions to build our companies, as opposed to being fearful of the future. It is the fear of decision making and then the wrong decision based on this fear, which stalls the economy, don’t let the referendum be the beginnings of this”
Companies plan to impose Brexit hiring freeze
Many companies are likely to impose a hiring freeze following Britain’s vote to leave the European Union, according to a survey by the Institute of Directors (IoD) which indicates that a quarter of firms polled planned to freeze recruitment. The results suggested that almost a third would keep hiring at the same pace, with 5% planning to cut jobs. Almost two-thirds said the vote was negative for their business. “Many of our members are feeling anxious . . . A majority of business leaders think the vote for Brexit is bad for them, and as a result plans for investment and hiring are being put on hold or scaled back,” said Simon Walker, director-general of the IoD. The FT examines how the uncertainty created by the referendum result will be the first challenge for overseas corporates, with many putting UK investment and hiring plans on hold.