pay cuts

cosecretary

Hi guys just wondering has anyone else had any experience with regards pay cuts. We have been asked to take 10% accross the board. I wouldnt mind but my salary is certainly nowhere near market rates and I had hoped to be looking at pay increase this year rather than decrease. Given that my wages are pitiful to begin with 10% means alot to me and whilst I understand that everyone needs to feel a bit of the pain of a pay cut I think that it surely would make more sense that those on less wages should not have to bear the same cut as those at Director, Partner level.

What is worse is the manner in which the firm made the announcement, rumours were rife for past two weeks, I had heard from two sources outside the firm that we were getting pay cuts and it was even in national newspaper today that there were to be staff briefings ..............talk about being the last people to know!!

Personally I feel aggrieved at the manner in which they went about the pay cuts. The firm is not suffering too badly and we are weathering the economic downturn well. I feel like they have shown employees who work hard for the firm a complete lack of respect and they have seriously damaged morale in the office.

Am I being too sensitive and is it worth talking to the partners about it?

Trampas

we got a pay freeze.

Companies will jump on the bandwagon of pay freezes/cuts during a recession even if they don't need to.

Part and parcel of recessions.

Employers have the power at the moment

DubTony

Trampas wrote: »

we got a pay freeze.

Companies will jump on the bandwagon of pay freezes/cuts during a recession even if they don't need to.

Part and parcel of recessions.

Employers have the power at the moment

YUP! Payback! hwaaaahahahahahahahaha!!! :rolleyes:

Dabko

Unfortunate op feels that way about the whole wage cut thing.

But, in all fairness, if people dont come to terms with THIS IS THE WAY THINGS ARE GOING TO BE FROM NOW ON. FULL STOP, we will be in 'recession' for the next ten years.

Have a good look at all the unskilled workforce not being given a chance to take 10% paycuts. Simply "Eh, we will be laying of staff in 2 weeks. Sorry" How do they pay next months mortage?

If people really think their skills are still worth the amount of money they have commanded in the past, go out on your own and start your own business.
Why not, take the plunge.

Or, if not, in the words of Michael O Leary "Put up and shut up"

I mean no offence to OP either. These are my genearal views.

cosecretary

Damko im sorry but thats a load of nonsense, its not just unskilled workers that are being let go, my partner has been let co hes an architect hardly unskilled also my brother is in danger of being let go hes a fund accountant again not unskilled. Yes unskilled workers are being let go and my heart goes out to them but you are wrong and very naieve if you think they are the only people being let go.

My problem with 10% cut is just that I am now covering the entire mortgage and personal loan on my own (my wages barely cover repayments). In the past few years rather than going for huge money job I stayed with my company even tho they were not paying me market rates when things were good I stuck it out to build a career, was my loyalty repaid no instead I found out I was getting a pay cut in he irish times before I was told by the Company. (By the way we are supposed to be one of the top companies to work for in Ireland announced this week)

Even tho I am barely scrapping repayments at moment my gripe is not so much with 10% as it is the manner with which I found out and also the fact that the fat cats in my firm are also only getting 10% cut when times were good they were on massive wages with massive pay rises my feeling is that these guys should pay more than I am.

I do believe that some and I repeat some employers are using the recession to get rid of some workers. I absolutely believe that some employers are most certainly taking advantage of the employers market we find ourselves in.

You seem to be blaming the workers for the state of the economy which is probably the mostunbelieveable ridiculous thing I ahve ever heard. This economy was built by the normal working people and destroyed by fat cats at the top of organisations!


What happened to employer employees

MB74

The is an element of opportunity taking and blame it on the recession. Not sure if it will be around for 10 years though.

Also there may be a valid arguement for precaution in case things do get worse.

It can be tough one to call!

antoinolachtnai

Why don't you move to another firm where your skills will be recognised and properly rewarded?

Bandara

antoinolachtnai wrote: »

Why don't you move to another firm where your skills will be recognised and properly rewarded?

I'd suggest because no one is recuiting and the market is flooded with over qualified candidates who will take a job on far less money than they are used to as they are desperate.

Its a welcome (sorry if this is harsh but it the way I feel) spin on the situation of the past 15 years when employees used come in and demand a pay raise or they would leave. Even if you gave them the raise they would then go back to the job offer and try get them to re-raise it.

Now the employer is the person in the strong position. I do not condone taking advantage of staff and am not implementing pay reductions on my staff, but it nice not to have to put up with the stuff we had to for the past decade.