We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Would you vote for a 13.5% pay cut?
Options
MrRee_2
Posts: 2,389 Forumite
How would you like it if your employer asked you to accept a 13.5% pay cut?
That is what 550 staff at one of the UK's biggest magazine printing companies have voted to accept in a secret vote.
The firm is the Goodhead Group, owner of the printing firm BGP in Bicester and Stones in Banbury, with a mailing business in Buckingham.
The firm is owned by the Sir John Madejski, more well known as the owner of Reading Football Club.
David Holland, the firm's chief executive, says life has become so tough for big printers like his that pay cuts are the only alternative to job cuts if the company has any hope of restoring itself to profitability.
"We need to cut our wage costs to be self-supporting.
The company has lost £69m in the last five years.
We have reduced our losses each year but the biggest problem now is a very depressed market price," Mr Holland says.
"We don't have any problem with productivity or quality or being over-manned - we don't want to make people redundant.
"The only thing left are basic rates of pay, to bring them in line with the market until things in the marketplace improve," he adds.
Mr Holland himself will take a pay cut of 20%.
Source:- BBC website
Would you take a pay cut to save jobs in your Company?
Sure, no-one would like it .... I certainly wouldn't like it even though it wouldn't really hurt me to take a 13.5% (£203) shave in my daily rate - to keep my Consultancy I guess I would take the hit.
That is what 550 staff at one of the UK's biggest magazine printing companies have voted to accept in a secret vote.
The firm is the Goodhead Group, owner of the printing firm BGP in Bicester and Stones in Banbury, with a mailing business in Buckingham.
The firm is owned by the Sir John Madejski, more well known as the owner of Reading Football Club.
David Holland, the firm's chief executive, says life has become so tough for big printers like his that pay cuts are the only alternative to job cuts if the company has any hope of restoring itself to profitability.
"We need to cut our wage costs to be self-supporting.
The company has lost £69m in the last five years.
We have reduced our losses each year but the biggest problem now is a very depressed market price," Mr Holland says.
"We don't have any problem with productivity or quality or being over-manned - we don't want to make people redundant.
"The only thing left are basic rates of pay, to bring them in line with the market until things in the marketplace improve," he adds.
Mr Holland himself will take a pay cut of 20%.
Source:- BBC website
Would you take a pay cut to save jobs in your Company?
Sure, no-one would like it .... I certainly wouldn't like it even though it wouldn't really hurt me to take a 13.5% (£203) shave in my daily rate - to keep my Consultancy I guess I would take the hit.
Bringing Happiness where there is Gloom!
0
Comments
-
dude you must be the only retired person that works every dayMaidstone Prices - average reductions at 8.5% (£19,668) Feb 2012 - We thought the dudes were not allowed to drop prices?0
-
"The only thing left are basic rates of pay, to bring them in line with the market until things in the marketplace improve," he adds.
The employees should insist on including a clause that as soon as the marketplace improves, their wages will come back to the current level. Boom times are ahead, so this dip of income should be very short term.I certainly wouldn't like it even though it wouldn't really hurt me to take a 13.5% (£203) shave in my daily rate - to keep my Consultancy I guess I would take the hit.
For men of our means it's obviously easier to bear, but I would take the hit also.0 -
I would rather take a cut then have no job0
-
is mrree going soft in his old age? normally he would have gone for the option of leaving his made up job that he invented to attempt to annoy other people on the internet, and moving to a different made up job invented to other people on the internet which pays 13.5% more.0
-
what is/was your profession/job Mr Ree?0
-
Euphoria1z wrote: »what is/was your profession/job Mr Ree?
Insert made up job here...0 -
Euphoria1z wrote: »what is/was your profession/job Mr Ree?
Internet Troll?0 -
I don't think it's fair to label Mr. Ree as a troll.
His original post was interesting, thought provoking and well worth a debate.0 -
Mr._Pricklepants wrote: »I don't think it's fair to label Mr. Ree as a troll.
His original post was interesting, thought provoking and well worth a debate.
Some of it was perhaps...
But as you are new here you may not have noticed his prior history... or perhaps you are not that new after all..?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards