Barclays Cut Rates Again

[TestMangler]

Only accepted a rate cut once back in 2007, will never do so again. If the client wants to keep you won't get a cut.

If your boss / business manager manages by spreadsheet, i.e. is not up to the job, then it can be rate cuts all round. If that's the case then time to go

If you're good enough you should be able to get another role. If you're not then you shouldn't complain about the cut

What he said. I've had rate cuts thrown at me twice. Knocked them back twice. Once, client co phoned two days after I left wondering where I was ?!!? and brought me straight back in at the original rate. Second time I had a gig three days later.

If you let them do it once, they'll do it again.

[Scrag Meister]

Being good enough doesn't really help if there are no open roles around in your field. For most people 90% of something is way better than 100% of fook all.

WWS

[nomadd]

What he said. I've had rate cuts thrown at me twice. Knocked them back twice. Once, client co phoned two days after I left wondering where I was ?!!? and brought me straight back in at the original rate. Second time I had a gig three days later.

If you let them do it once, they'll do it again.

This^

Had Barclays try it on twice. Threatened to walk twice. Contract immediately renewed on both occasions at the same rate. Still, you have to admire their nerve at cutting contractor rates when they only make billions in profits - still.

[Epiphone]

If you're good enough you should be able to get another role.

I'm not. Oh.

[Mephisto]

Stood ground, rate not cut! Happy days!

Oh and boomed til March

[nomadd]

Stood ground, rate not cut! Happy days!

Oh and boomed til March

Good man. Congrats.

[Hot Mess]

Stood ground, rate not cut! Happy days!

Oh and boomed til March

He who dares, Rodders. Are they also trying on this ten days holiday lark?

From 5 December, BarCap (and Barclays Wealth) will cut rates by 10% and demand that all contractors take 10 days holiday before the end of the year. We understand that the rate cuts are not across the board, but will still apply to some 60-70% of all IT contractors in the organisation

Why BarCap's contractor rate cuts will produce a domino effect | News | www.eFinancialCareers.co.uk

[northernladuk]

He who dares, Rodders. Are they also trying on this ten days holiday lark?

From 5 December, BarCap (and Barclays Wealth) will cut rates by 10% and demand that all contractors take 10 days holiday before the end of the year. We understand that the rate cuts are not across the board, but will still apply to some 60-70% of all IT contractors in the organisation

Seems contractors don't take holidays this bit is irrelevant then LOL. Like to be around when someone raises that to the client

[Mephisto]

Yep the 10 day rule is still being enforced but I'm happy to go off piste over Christmas. I would've requested two weeks probably myself anyway.

[nomadd]

Yep the 10 day rule is still being enforced but I'm happy to go off piste over Christmas. I would've requested two weeks probably myself anyway.

I work for another IB, not BarCap, and that 10 day rule during the final quarter has been in for a couple of years now. It matches what they do with Traders - enforced holidays. Supposed to stop them "covering their losses" by being in the office all the time, all year round; Traders also have a mandatory 10 days in the first half of the year as well.

In other words, this isn't just an anti-I.T.-contractor thing. It applies across many Dept/people in IBs these days.

Still, as another posted pointed out, 10 days enforced holiday during the year is hardly a hassle to get worked up over.