Office Chat

[youwhut]

As a contractor, I realise I am being forever sinnacle/cynical regarding the contract and renewal. The money is great, and with the constant talk regarding 2008 slump it is not surprising.

My contract will be up for renewal in early April and come late March I will also be looking for other contracts. I would like to be renewed but I do hear chat around the office which makes me think. One big topic is, "budgets are being cut by 25%". I guess this is the current trend in the IB world?

My thought is that when budgets are cut, the contractors are the first to go.

Does anyone take note of anything else? i.e. The snack machine being stocked with Hula Hoops rather than Walker's Sensations?

[oracleslave]

sinnacle

[ChimpMaster]

At this IB the budget has been reduced 10%. However it still appears to be busy though no one has been given a rate rise. Plus it's very cold in the office - I think that's where they're making their 10% savings.

[oracleslave]

At this IB the budget has been reduced 10%. However it still appears to be busy though no one has been given a rate rise. Plus it's very cold in the office - I think that's where they're making their 10% savings.

Didn't know you had to ask for a rate rise. What happened to 'Oh my new rate is XXX by the way?

[youwhut]

Haha. Oops!

[NotAllThere]

Some of the big multinationals here have announced redundancies, in order to reduce costs. So many companies have a headcount freeze. Contractors don't count towards headcount, so all of a sudden, there's loads of freelance work.

[moorfield]

Same. This IB like many has a hiring freeze at this time of year, so no new contractors arriving but the ones already in will be renewed to keep the menial stuff going for a while longer.