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From asking around onsite it appears that direct contractors are in a distinct minority. A lot of contractors are operating via consultancies (fdm,datainc,wipro,hcl to name a few) and aren't currently affected by this rate cut. For the last year or so ubs have been switching increasingly to...
I have been contacted today by Hays who run the contract account at UBS to inform me they are implementing a global 10% rate cut for all contractors. It looks like they may have staggered the news slightly as after speaking to several fellow contractors on site they have found out at various...