Contract until EOY, handed in notice last week, now rate reductions starting nxt week

[ladymuck]

You can point out that, as you're already leaving, there is no point in a change of contract and see if they'll keep you on the same rate. As you're planning to stay until the end of the year, they may not go for that.

You can accept the lower rate for the remaining period of your contract, and know you will definitely stay in post, or you can decline the rate cut and your contract is highly likely to be terminated.

There are always exceptions when rate cuts are introduced so it's worth chancing your arm. Just don't say you'll flounce if you're not prepared to actually leave.

Decide whether you're willing to take the rate cut or not. Then try the first tactic to avoid the cut.

[jf2010]

You can point out that, as you're already leaving, there is no point in a change of contract and see if they'll keep you on the same rate. As you're planning to stay until the end of the year, they may not go for that.

You can accept the lower rate for the remaining period of your contract, and know you will definitely stay in post, or you can decline the rate cut and your contract is highly likely to be terminated.

There are always exceptions when rate cuts are introduced so it's worth chancing your arm. Just don't say you'll flounce if you're not prepared to actually leave.

Decide whether you're willing to take the rate cut or not. Then try the first tactic to avoid the cut.

This makes a lot of sense. Will take this approach, thanks.

[TheDogsNads]

You can point out that, as you're already leaving, there is no point in a change of contract and see if they'll keep you on the same rate. As you're planning to stay until the end of the year, they may not go for that.

You can accept the lower rate for the remaining period of your contract, and know you will definitely stay in post, or you can decline the rate cut and your contract is highly likely to be terminated.

There are always exceptions when rate cuts are introduced so it's worth chancing your arm. Just don't say you'll flounce if you're not prepared to actually leave.

Decide whether you're willing to take the rate cut or not. Then try the first tactic to avoid the cut.

What a bizarre scenario the OP has posted!

The OP has served notice. Why would the client offer them a new contract on reduced rate when he \ she has given notice?

If the client gave a new contract, that would mean the notice served on the old contract was no longer in force. Given that the OP is talking about leaving around the New Year under the served notice, that suggests there's a loooooong notice period. Ergo, the OP serving notice on the new, reduce rate contract will very likely mean termination well past the original leaving date.

I suspect the client will say to the OP, we intend reducing your rate from whatever date and if you dont accept, off you toddle, we've no work for you.

IMHO, it doesnt sound like the client will accept the OP staying on the old rate.

[jayn200]

To clear this up a bit. I handed in notice already, and for a different reason. I am confident at the end of this contract I will be able to find a new contract, and worst case scenario I am off for a month that is okay too.

So, these are planned rate reductions, so I guess I will have to just go along with it.

Looooooooooooool worst case scenario is off for a month... are you living under a rock?

[unixman]

A few years ago I was at a certain bank when they announced a 10% rate cut for all contractors. To implement, they served a "variation" notice, effectively ending everybody's contract on a certain date, and offering them a new one, starting the day after. I declined the offer and so did many others, including key staff, and left on the end date.

It depends on your personal circs and how much you are enjoying the contract, obvs.

[NotAllThere]

I have a contract until end of year. I handed in my notice this week, but now there are rate reductions that should start from next week going forward. I will continue to work until the end of the contract with the client.

It is a large company so reduction applies to all contractors. As I need to sign a contract amendment for this rate reduction, can I decline it?

BT will give your agency notice on your contract. A new contract will be offered at 80% of the original rate. Yes, you can decline it and find work elsewhere.

Funnily enough when my long term contracting client said they'd need to reduce rates, I said I'd just reviewed mine and they'd gone up! It was strange how the exact amount of my increase was counter-balanced by their cut... but it got past procurement! (It helps being in cahoots with the management)

[SussexSeagull]

I really, really wouldn't be playing silly buggers at the moment. Unless you don't need the money take what is on offer.

[rawly]

BT

lol! Yes 20% mandatory stay or go.

[fool]

Might not be BT.

Refinitiv are doing a global 10% cut. I told them to go jump. Apparently if you do, you get until the end of Oct.

[TheDogsNads]

Might not be BT.

Refinitiv are doing a global 10% cut. I told them to go jump. Apparently if you do, you get until the end of Oct.

Yeah, that sounds like a great plan. Tell the client to shove 90% of what you had for 100% of nothing in this market in less than 6 weeks time. Not!