Current economic conditions have prompted three-quarters of employers to put their recruitment plans on hold, according to new research.

A survey conducted by the employment law firm Peninsula also revealed that two-thirds of employers cannot rule out making redundancies within their company, the Press Association reports.

Peninsula’s managing director Peter Done said: "Employers have had to put a hold on recruitment as the credit crunch bites.

"It is understandable that businesses want to be in good shape coming out of this economic uncertainty and so redundancy just cannot be ruled out."

He said any employers choosing to let staff go need to handle redundancy sensitively, keep employees informed at all times and ensure they follow legal regulations.

Meanwhile, a survey carried out by the TUC shows that 13 per cent of UK workers are worried about the security of their job over the next year.