A SURVEY has revealed UK workers are reducing their monthly expenditure in case they are made redundant.

Fears about Brexit are believed to have prompted people to put money away and many employees say their company has lost out because of Brexit.

With the UK set to leave the EU on October 31; 40 percent of employees in the UK say that Brexit has resulted in their company cutting jobs, according to a new survey from Glassdoor, one of the world’s largest job and recruiting sites.

The online survey, shows the extent to which employees are worried about redundancies at their employer and how concerned they are that their own job might be eliminated.

Half of employees say that Brexit has had a negative impact on their company’s financial performance.

Further, 49 per cent say they believe their company will make redundancies in the next year.

In a sign that many people are fearful for their job security, 48 per cent say they are worried their job may be made redundant over the next 12 months.

Workers aged 18-44 are more likely than those aged over 45 to be worried about job security.

These fears may be leading to a change in spending habits as a precautionary measure.

Over half of employees say they have consciously reduced the amount of money they spend every month in case their job is made redundant.

“Many UK employees are anticipating job cuts and are naturally concerned, prompting them to reduce their financial outgoings," said John Lamphiere, EMEA managing director at Glassdoor.

He went on: "Despite current low unemployment levels, this likely means the UK labour market is experiencing uncertainty and that looks set to continue well into the next financial year."

He added: “With roughly half the workforce worried about Brexit having a negative financial impact on their employer, it might be a good time for companies to engage with their employees to reassure them about jobs, growth and business momentum.”

In terms of looking for a new job, about two thirds of employees say they do not plan to search for a new job until the job market looks more positive.

Mr Lamphiere said: “This suggests employers may need to work harder to recruit quality talent in the near term.

"However, it may well be that knowledge workers, in other words those leveraging specialised skill sets or capabilities and being career-focussed, would be more open to a job move."