CBI to lay off swathe of workers in attempt to cut wage bill by a third

Business lobby group says it must make difficult decisions' amid crisis prompted by sexual misconduct allegations

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The UK's most prominent business lobby group, the Confederation of British Industry, is to lay off a swathe of its workers as it fights for survival amid a crisis prompted by multiple sexual misconduct allegations.

The CBI needs to cut its wage bill by a third within months, staff were told at an all-hands meeting on Thursday morning, according to sources with knowledge of the discussion, with management aiming to initially use voluntary redundancies to trim costs.