If you have to you have to.
If they are just trying to save money then ask for your normal rate but a 3 day week.
It does sound like they are playing you. They have work to do and clearly want it done as cheap as possible (which is reasonable). They would have to go through the whole process of finding someone else if you leave. That always takes time and costs money. Especially if the job takes a while to pick up. You could try pointing this out.
If you are in no position to call their bluff then take the offer but get out quickly.
If they are just trying to save money then ask for your normal rate but a 3 day week.
It does sound like they are playing you. They have work to do and clearly want it done as cheap as possible (which is reasonable). They would have to go through the whole process of finding someone else if you leave. That always takes time and costs money. Especially if the job takes a while to pick up. You could try pointing this out.
If you are in no position to call their bluff then take the offer but get out quickly.
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