City hedge fund cuts day rates

[YHB]

Cant post the full message as marked 'Internal' but just been sent to all contractors where I work- "effective from January 2009, we intend to reduce day rates we pay..."

No figures mentioned as says your agencies will have been notified " ....suffice to say these reductions will make a material difference to our month-on-month spend on IT....".

Glad I turned down an extension (due to IR20)

[swamp]

I hope you increase your time on CUK accordingly.

[expat]

I hope you increase your time on CUK accordingly.

Goofing off for being effed about: triple time.

[Stan.goodvibes]

so, bit of a hedge clipping then...

[AtW]

so, bit of a hedge clipping then...

napalm and lots of it

[max]

Cant post the full message as marked 'Internal' but just been sent to all contractors where I work- "effective from January 2009, we intend to reduce day rates we pay..."

No figures mentioned as says your agencies will have been notified " ....suffice to say these reductions will make a material difference to our month-on-month spend on IT....".

Glad I turned down an extension (due to IR20)

Out of interest, how much did hedgies pay for developers and some such? Same as the IBs, or more?