UK Business News

Senior Executives made redundant in the UK have doubled in the last year, says a report by The National Management Salary Survey.

The survey shows that 3% of Senior Executives were made redundant in 2007 up from 1.4% in the previous year. Redundancies in the manufacturing industry were the most affected sector making up 7% of the total.

Resignations by senior executives stood steady at 6.5%, still the second highest percentage over the past decade.  Scotland recorded a figure of 8.5% of resignations the highest in the UK, while the South East of England saw most loyalty at 4.2%.

Most companies blame headhunting from competitors as the major reason for resignation, with under half admitting that inadequate career opportunities within their companies were to blame.