Pay freezes at more than half of firms in UK

[TrueBlueTerrier]

http://news.scotsman.com/scotland/Pay-f ... 5207948.jp" onclick="window.open(this.href);return false;

MORE than half of businesses are planning to freeze employees' pay this year, with a further 12 per cent intending to cut wages, a new report has revealed.
The British Chambers of Commerce (BCC) report showed that 58 per cent of firms are planning to freeze wages.

It comes as the BCC presses the Government for more support for businesses during the recession.

The poll also revealed that 50 per cent of companies are considering, or are certain about, making redundancies this year.

BCC director general David Frost said: "It is the private sector that has faced all the pain of this recession. The results of our most recent poll show just how hard times are, with half of firms considering making redundancies.

"There was some support in the Budget, but more is needed to help Britain's embattled businesses."

Many companies have already implemented zero per cent pay settlements, including British Airways, where unions have agreed a pay freeze for cabin crew.

Jaguar Land Rover has frozen pay and Toyota has cut employees' wages by ten per cent.

Royal Mail proposed last week that none of its 181,000 staff would be getting an increase, but unions have protested against the plans.

The UK's bleak economic picture was further illustrated today when it emerged that financial services companies are taking twice as long to appoint people in new jobs.

Since the collapse of Lehman Brothers in September, the average time of appointment is six weeks, demonstrative of the current uncertainty in the market.

[dvbuk55]

Well I'm glad we're not alone - it's soooooooooooooooo comforting - maybe we're lucky it's not a pay cut.

[DGP1]

For a lot of companies it's just an excuse to make more profit and has little to do the recession.

[dvbuk55]

For a lot of companies it's just an excuse to make more profit and has little to do the recession.

Too damned true disgruntled - the cheap skate bast*rds.

[eian687]

yeah but i bet if you look at the last 5 - 10 years there pay deals were well better than our 1 +1/2 % per year

[Pokemon Postmon]

Well I'm glad we're not alone - it's soooooooooooooooo comforting - maybe we're lucky it's not a pay cut.

Since my cost of living has risen in the last year (for example, there's been no freeze on my Council Tax!) then it is a pay cut, pure and simple.
Gordon Brown was quick enough in trying to pour money back into the economy. What better way than to give us what we deserve so we can put the money back into other local businesses and services by simply spending our extra wages?!

[eian687]

i would not mind a pay freeze if we were on the national average

[k979aaa]

I am not buying this bull we all are paying this money too the banks too pay the businesses and therefore the workforce if the workforce do not benefit our own contribution to the economy will dry up and therefore so will the economy what is the benefit in those who most contribute in taxation and therefore the nation!.