Pay Cut

TELLIT01

With the explanation given above, I definitely wouldn't be accepting any form of pay cut.  The company set your salary at some point and they have to live with that decision.  I would also be looking to get out as soon as possible as the OP is clearly not valued.

A rough calculation of the MDs 'suggestion' is that the OP will be earning roughly £1700 per month less (gross) than the first half of the year.  Can the OP afford to do that?  Most people live to their income.

TBagpuss

I'd tell them no, you feel your pay is commensurate with your role and experience . And start looking for other jobs. 

There are some situations where people so agree paycuts, but it would be exceptionally unusual for it to be backdated, so if you agreed to drop to a salary of £40,000 I would expect that to apply from 1st Jan, so you would get gross pay of £4,166 up to and including december and gross pay of £3,333. per month from Jan onwards, in in the financial year to the end of May you would earn a toal of £45,828 (7 months at £50K p.a. and 5 at £40K p.a.)

Employees making mistakes is part of the ost of doing business. If the mistkaes were serious enough they could have fired you or put you on a PIP.

dontknowwhattodonext

I could not afford the £1700 per month less (gross I realise), this is my concern, I could afford a slight cut, but this happening after 6 months is the issue

Ath_Wat

How easily do you think you could get another job paying £50K at another company reasonably locally?

How many people are there locally who would be happy and capable to do a job like yours for £40K?

It's possible that the pay cut is unfair (although unfairness is not illegal) and it's equally possible you have been lucky to be  overpaid for years. Only you can know and the course of action is clear - if it's the former, get one of those other jobs.  

GiantTCR

TBagpuss said:

Employees making mistakes is part of the ost of doing business. If the mistkaes were serious enough they could have fired you or put you on a PIP.

OP could even flip it around and say that mistakes were made because of lack of support/training from the company.

Offense is the best defense 

Ath_Wat

GiantTCR said:

TBagpuss said:

Employees making mistakes is part of the ost of doing business. If the mistkaes were serious enough they could have fired you or put you on a PIP.

OP could even flip it around and say that mistakes were made because of lack of support/training from the company.

Offense is the best defense 

If you've been there 20 years I am not sure that's the best line to take.

dontknowwhattodonext

Having looked today a more local job to home is offering 45k, would half my traveling time and fuel cost.

TBagpuss

dontknowwhattodonext said:

Having looked today a more local job to home is offering 45k, would half my traveling time and fuel cost.

I'd apply for it if I were you. But in the mean time, don't agree to the pay cut. 

JReacher1

20 years employment history means it will not be quick to get rid of you.

 Asking you to do the same job for £10k less is laughable and I would refuse. Start applying for new roles. 

74jax

dontknowwhattodonext said:

Having looked today a more local job to home is offering 45k, would half my traveling time and fuel cost.

I'd apply, you can always try and negotiate 50k with 20yrs experience. 
I wouldn't agree to a paycut, at all. You've been there too long to be messed about with no notable differences, a few errors etc does not warrant 10k more in their bank.
Let them try to mess you about, whilst you pay no notice and find another job. Then leave. And don't look back.