Top accountancy firm offers its 11,000 staff sabbaticals or four-day week as credit c

pizzagirl

chucky wrote: »

Bettie - you must have forgotten to post the links to the other jobs that were anounced that were going to be created.

how come you only post job losses?

Maybe because you can't really compare the loss of highly- paid and highly- skilled jobs like these to the creation of low skilled and lowly-paid jobs like those in Tescos, McDonalds, etc. Try paying a mortgage on a shelf-stackers wages in Tesco

Thrugelmir

mewbie wrote: »

No matter how large the salary, it is easy for people to 'fit into' that salary, to become accustomed to it. If I still managed on what I was earning twenty years ago I'd indeed be rich. But my life-style has expanded to use my income, and losing 20% would hurt. A lot.

My point was, and perhaps I should have gone on at greater length (mod: no need really), was that many companies may look at doing this sort of thing, and many peopel may find themselves in a spot of bother as a result. I am not posting this to make some bear point, but as a kind of thinking aloud "hmmm I'd better prepare for this possibility".

My comment was an observation. It was made in the context that the workers at the Honda car plant will be on 80% of their normal income when the plant shuts. In the event that the plant actually reopens in June, their salaries will have to be repaid. At a guess this would take the form of unpaid overtime and shift allowances. No doubt the Company is hoping that some will leave voluntarily during this period.

Much to the Government's anguish , as you say bunkering down is a good option until the dust settles.

withnell

Thrugelmir wrote: »

The average salary at KMPG is far above the national average. A worrying trend for those younger high flyers with excessively large mortgages though.

As many jobs are based in London it is of course likely that they'll be over the nation average (which i believe is less than 20k a year? - try living on that in London). Accountancy salaries are for highly skilled professionals, and are not really near those in the realm of investment banking.

I believe an official press release about the scheme will be being made so until then I won't comment on it any further

mvengemvenge

mewbie wrote: »

No matter how large the salary, it is easy for people to 'fit into' that salary, to become accustomed to it. If I still managed on what I was earning twenty years ago I'd indeed be rich. But my life-style has expanded to use my income, and losing 20% would hurt. A lot.

My point was, and perhaps I should have gone on at greater length (mod: no need really), was that many companies may look at doing this sort of thing, and many peopel may find themselves in a spot of bother as a result. I am not posting this to make some bear point, but as a kind of thinking aloud "hmmm I'd better prepare for this possibility".

I don't think there's any 'may' about it. I think nearly all private companies must currently be taking a long, hard look at staffing and overheads.

tmm_aka_tracy

I work for KPMG and we received notice about this today. It is not compulsary for anybody to sign up to this scheme, although they do want to encourage as many people as possible to give them the maximum flexiblilties.

I'm not dissapointed that this decision has been taken, as I think that it makes sense to prepare for any downturn.

Id much rather know that I had a salary guaranteed at 80% for the next 18 months, than the fear that I'll have no salary six months from now through redundancy.

TMM

slipthru

A friend of mine works for a payroll company and they introduced the four day week for the whole company about five months ago.

It's a shame losing that extra bit of income but far better than losing a job.

Cornball

Thrugelmir wrote: »

The average salary at KMPG is far above the national average. A worrying trend for those younger high flyers with excessively large mortgages though.

Not all KPMG employees are accountants. They have a large Support Services section and for the most part these people make very average salaries, especially in the offices outside of London. These are the people who are going to be strongly 'encouraged' to volunteer, by their Senior Management Team who make 3x what they do. They give all staff a £3 lunch allowance. If they cut that, they'd save £33,000 a day. I'd rather they cut that first! BTW, this isn't anything new, Deloitte & Touche started redundancies 6 months ago.

Kenny4315

crystal ball or what ...

http://forums.moneysavingexpert.com/showthread.html?t=1399331&page=11

Kez100

Why have they got less work? Surely if audits have been lost insolvency and these pre pack administrations must be increasing?

themanbearpig

****, kmpg's graduate programs much be getting cut back too
It's a really bad time to be graduating...

I don't think anyone needs to worry too much about those working there, nearly all of them earn well over £50k (except for those on training contracts). Average salary in this building is close to £70k