Brexit was blamed for the abrupt departure of top managers

Laxman Narasimhan has stepped down from British consumer goods giant Reckitt Benckiser to take on a top job at Starbucks. Credit: AP Photo/Stephen Brashear

High turnover in UK companies helped boost global layoffs by 31.5% to a five-year high of 175.

Exiting FTSE 350 executives accounted for more than a fifth (22%) total turnover of executives in 2022 . Over the same period, the number of exits from Australia's largest firms also increased by 13%.

In comparison, the number of executives leaving positions in the Euronext 100 decreased by 50% year-on-year, while the number of exits from The Nikkei 224 companies fell 8%.

Globally, the healthcare and pharmaceuticals sector saw the largest turnover of executives as businesses responded to post-pandemic supply chain pressures.

Many executives also stayed in their positions. positions have lasted longer than anticipated due to Covid as the problems it caused, such as higher inflation, price controls and a lack of skills, required stability at the top to navigate.

«This bottleneck is now widely exposed, with a number of executives retiring after three years of chronic burnout,» according to RRA.