- Thursday, 13 August 2009Individual voluntary agreements (IVAs) could help those facing financial difficulties as a result of redundancy.
The Office for National Statistics this week revealed that unemployment in the UK has hit its highest level in more than a decade, reaching 2.4 million.
Affirming the figures, a number of companies across the country have made, or are making, a number of redundancies.
Jarvis, a rail maintenance company based in York, made 450 redundancies earlier this year and is expected to make more, although chief executive Richard Entwistle said the company was unable to give exact numbers.
"We are not in a position to confirm formal numbers because we are in discussions with employees and unions to lessen the impact as much as we can," he commented to the Yorkshire Post.
People facing insolvency as a result of redundancy-related finance problems, could consider seeking advice on the benefits of entering into an IVA.
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