Renewal during head count reduction

[FiveTimes]

My current gig is to finish in a little over 4 weeks, there has been talk about reducing the current contractor head count. Now I am fairly sure I will be offered an extension, but given the current climate would it be best to accept on my current rate ?
Or should I start looking for another gig now in order to protect myself if the renewal doesn't come ?

[Pickle2]

would it be best to accept on my current rate ?
Or should I start looking for another gig now in order to protect myself if the renewal doesn't come ?

Both.

[TheFaQQer]

My current gig is to finish in a little over 4 weeks, there has been talk about reducing the current contractor head count. Now I am fairly sure I will be offered an extension, but given the current climate would it be best to accept on my current rate ?
Or should I start looking for another gig now in order to protect myself if the renewal doesn't come ?

Yes.

[AlfredJPruffock]

When in Doubt - do nowt.

[Muttley08]

Just make sure you hand nothing over, don't tell anyone else what you've been doing, and they'll need to extend you. That's what 'real' contractors do.

[Andy2]

Just make sure you hand nothing over, don't tell anyone else what you've been doing, and they'll need to extend you. That's what 'real' contractors do.

Also don't do any documentation, if you do make it as vague as possible

[XLMonkey]

You should always look for an alternative contract, regardless of what the client is doing - your negotiating position is always enhanced by having an alternative to accepting what the other side has to offer.

[Crossroads]

My current gig is to finish in a little over 4 weeks, there has been talk about reducing the current contractor head count. Now I am fairly sure I will be offered an extension, but given the current climate would it be best to accept on my current rate ?
Or should I start looking for another gig now in order to protect myself if the renewal doesn't come ?

What feels right to YOU? Far too complicated for a forum to answer...

1. If you are going to be offered an extension, then presumably you are a favoured service provider, and in which case you may be able to negotiate a rate increase...especially if the overall budget is still lowered. Why is the "head count" being reduced? What about the workload? Maybe you can offer more services (more hours per day / days per week?) to take up the shortfall.

2. Forgetting the resource reduction, do you have grounds to justify and increase?

3. What if the client says no? Will you walk?

4. If you walk, do you need income immediately? I've never looked for my next contract whilst already in one, but then I have plenty of savings to live off.

5. I don't think having something else to go to is a strong negotiating position - my approach to this would be to let you go, sooner rather than later.