Rate Cut Rumours...

[Zippy]

Take the cut if you have to - it makes you 10-15% more attractive to the client.
Hope it doesn't come to that though ..

[Mich the Tester]

I should rephrase my answer. The project managers all accepted rate cuts, most of the techies refused. Great result; ClientCo saves money, techies now earning more than Project Managers.

[swamp]

Start looking for a new contract. If you find one then walk out of your current site.

Once clients terminate mid-contract the gloves are off. "Unethical" or "unprofessional" behaviour doesn't come into it.

[Lockhouse]

I'm direct. In the face of overwhelming client cost reduction (in banking) I agreed a phased reduction of 9% over the next 12 months with 5% reduction now and 4% if I renew in July. On the plus side I've just renewed at 95% of my current rate and know the client wants to keep me until the end of the year. Boomed!

[SallyAnne]

I should rephrase my answer. The project managers all accepted rate cuts, most of the techies refused. Great result; ClientCo saves money, techies now earning more than Project Managers.

Just as god intended!

Edit: Oh, and sorry to hear it Xen

[rootsnall]

I reckon rates in my game fell about 40% and pretty quickly in the last slump. Things are shaping up as bad if not worse this time so look at small rate cuts and a continuing contract as a good thing. Some people might ride it out on a good rate but you'll have to be good, lucky or both.

[DimPrawn]

Take the cut if you have to - it makes you 10-15% more attractive to the client.
Hope it doesn't come to that though ..

It also makes you 10-15% poorer and inflation is a long way above zero.

The worst bit is that when there is little resistance to a 15% cut, you'll find another one comes along a few weeks or months later.

[Xenophon]

Rumours were true. Waiting for the call from agent.

What fun.

[Zippy]

Rumours were true. Waiting for the call from agent.

What fun.

Sorry to hear that. Hope it won't prove too expensive.

[Moscow Mule]

Rumours were true. Waiting for the call from agent.

What fun.

Make the agent take at least 50% of the cut. Or tell him gloves are off (due to material breach) and you'll go direct - he can sue you if he likes...