leave or get downgraded!!

needhope

I was recently headhunted from 1 bank to another in november for a specific roll, and was offered a specific salary.

Today i was told that due to current financial market i would need to downgrade my position to another on a lower salary if i want to stay, or leave!! After giving my job up for them i feel very angry they were persistent over a number of months until i accepted.

I am still on a probationary period and dont know my rights, can they just do this to people?? i cant afford the lower salary as im already struggling as it is.

Any thoughts. xx:mad:

Zazen999

Would your old job be still available?

SomeBozo

You have no legal rights in your current position as you are a)on probationary and b) been employed less than a year.

This means they can sack you and not give you any reason.

As the last poster said, your only option seems to be your last job or moving on (or the dole).

Bozo

Red_Elle

There was an article in a magazine very recently relating to this. The question was 'would you take a pay cut to help your employer out in the current economic crisis' with 2 opposing points of view.

I would be asking how many other people have been given this option.
Also, how long is it likely to be for - do they anticipate reviewing it and when?
Are there any other issues relating to your work? In other words try to find out if you're being managed out?
What are the genuine business reasons for this?

If they really want you still, but are struggling with money then are you prepared to do it? If they say they are, get it in writing regarding when a review will take place.

bristol_pilot

A lesson here for those who think that being headhunted means you are something special and must be of particular value to the organisation. It doesn't and you're not. Beware of changing jobs in a recession, headhunted or not.