U.K. Business Training Budgets Get the Axe

The United Kingdom's Chartered Institute of Personnel and Development (CIPD) just released a study that reveals that more than half of private sector firms reported deteriorating trading conditions in 2002, with 28 per cent cutting training budgets in response, 55 per cent maintaining training spend and 17 per cent increasing it. In the public sector, 38 per cent of employers say the economic outlook has worsened over the past year. Of these organizations, 26 per cent report an increase in spending on training, 54 per cent said it remained steady and only 20 per cent saw a reduction.

While the American Society of Training and Development (ASTD) reports some decreases, they are considerably less than what the U.K. is reporting. A January Gallup poll showed that corporate employers in the U.S. continue to invest in their workers, even during the current downturns.

Go here to read more about the training cutbacks in the U.K.