Forced To Take 10% Pay Cut In IB - Are My Human Rights Violated

[lilelvis2000]

It would surely depend on the terms of the contract and how they impose the cut. If he has a 30day notice period and they are giving him 30days notice of the cut, that's fine. If they are trying to change the rate sooner than the notice period, or if there is no notice period, that could be dodgy.

Yeah like the notice period I had which amounted to "when I come and tap you on the shoulder, that's your notice." Lack of a notice period is not "dodgy" its the way it is.

[Doggy Styles]

You can try going through court for breach of contract. But that might cost you more than you'll lose from the breach, you probably won't win and, as I understand it, word gets around about bolshie contractors.

[darmstadt]

NLUK...this one is for you, please...

[d000hg]

Yeah like the notice period I had which amounted to "when I come and tap you on the shoulder, that's your notice." Lack of a notice period is not "dodgy" its the way it is.

a)I didn't say no notice period was dodgy
b)No notice period normally means you can't get out, not they don't have to give notice


HTH

[Sands of Time]

Reading his post has breached my human rights I feel...



Tone

[AtW]

A serious question posted in general to try and get a wide range of perspectives

I work in a bank as a contractor - They applied a 10% cut across the board.

Has anyone seriously looked at whether they have broken any employment rules and whether people have any rights?

Also out of interest do you always need to be given notice if they want to fire you (ie paid for 4 weeks) if they want you to leave immediately?

I thought you were paid enough to have a solicitor review your contract and give you proper advice to shut the hell up and be grateful for what you've got?

[darrenb]

If they can give you a 10% rate cut with no notice, then you can walk with no notice.

Remember that if you accept the cut you are sending a signal that you would accept another 10% cut... and another. Word tends to get round who accepts cuts, and who doesn't. How else is a banking manager with no technical experience going to know who is good and who isn't? The good ones know they are worth what is specified in the actual contract.

[AtW]

If they can give you a 10% rate cut with no notice, then you can walk with no notice.

Now that's highly unlikely.

HTH

[northernladuk]

NLUK...this one is for you, please...

Words fail me. This guy is just an utter moron.

Pay cut? Employment rules? Fire you? Not only is he a moron he is a hidden permie but I bet his accouts don't reflect that so is in a worse situation than he things.

[bobspud]

Look you need to understand a few things along with 70% of the rest of the guys I have found contracting so don't take it personal.

You get paid a fortune for bringing a talent to work and being a bitch.

I once new a guy that said: A wise man never hires a whore to sleep with him. He pays them to leave with discretion...

Thats the game you are in. Your bank has looked at the market, figured out that there are quite a few contractors that got hired on much more than the market and have not been corrected... Instead of going through all of you one at a time as your renewal came round and saying market price for your skill is X want another few months or no. They took the decision to say 10% across the board should cover it.

Want a wide ranging opinion?

I am finding far too many guys in the contracting market that still think with a permie head... (why no holidays, what no redundancy pay? )
We are in the midst of an attack that is going to wipe us out under IR35 PSC abuse and what ever the next onslaught is. It will destroy contracting all together.

If contractors don't harden the FSCK UP and start acting like a supplier of services, then there really isn't going to be a argument left to fight.

If you want rights BE A PERMIE...

If you want a flexible life and the chance to earn more with no employment rights and no employer control? Welcome to contracting just don't moan when things get flexible in the wrong way....