Job Retention Bonus axed in favour of furlough
Posted on 3rd December 2020
by
Streets
In July the Chancellor, Rishi Sunak, announced that employers would receive a £1,000 one off payment, a Job Retention Bonus (JRB), per employee who was previously furloughed but who’s job remained in place until the end of January 2021.
The JRB was set to provide a potential financial boost to businesses possibly at a time when employers we looking to return employees to the business and/or looking at an upturn in activity. However, the JRB has been cancelled following the surprise decision by the Chancellor to extend furlough to the end of March 2021.
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