The much-lauded furlough scheme will indeed come to an end at the end of October, but UK chancellor, Rishi Sunak, has announced a new scheme - the Job Support Scheme. This will run for a stated period of six months from November.
Details will undoubtedly follow, but here's what we know so far:
1. The employee must work a minimum of 33% of their normal hours of work.
2. For remaining hours not worked, the government and employer pay one-third wages each. So employees working 33% of their hours will receive at least 77% of their pay. There is currently no mention of any cap on this support, but such a cap would not come as a surprise.
3. All small and medium sized businesses are eligible to take advantage of the scheme, as will some larger businesses only when their turnover has fallen by a third through the crisis.
4. No notice of redundancy to be given whilst an employee is on the scheme.
This will no doubt come as a relief for many businesses and employees alike. We will report on the detail as and when that becomes available.
The Jobs Support Scheme, which will replace the furlough scheme when it ends, will see workers get up to 77% of their normal salaries for six months.