The National Living Wage has been in place for over a month and has already sparked a great deal of controversy. Introduced on the 1st April 2016, it has raised the hourly wage for workers aged over 25 to £7.20, rising to £9.00 by 2020.
Following its introduction, many big businesses have found themselves coming under fire. The businesses in question have cut working hours, staff benefits (such as a paid lunch and free staff food), bonuses and reduced overtime pay in an attempt to counterbalance the increased cost of labor.
While the media and the public continue to criticize the larger companies for their actions, for many smaller businesses, taking these measures may be unavoidable in the face of increased price and market competition. Click here for more details...
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