London firms in hiring freeze
UAE businesses may be hiring in numbers again - but London companies aren't doing likewise, according to a new survey.
Businesses in the British capital are less gloomy about the economy than six months ago but are cutting back on hiring staff because of the crisis in the eurozone, the new CBI/KPMG London Business Survey found.
The number of employers freezing their recruitment has more than doubled to 51 per cent over the past six months, it showed.
London will host the Olympics next month and the government is hoping the world’s biggest sporting event will help to revive an economy stuck in reverse.
“In this milestone year for London, it’s great to see that the capital’s firms are more optimistic than six months ago, but the shadow cast by the eurozone crisis continues to hang over businesses and the economy,” said Sara Parker, CBI London region director.