20% pay cut

[Coronacorona]

I work for a smallish firm - around 250 staff - and we’ve all been asked to take a ‘voluntary’ pay cut of 20%.

Is anyone else in the same boat? We’ve been told lots of firms are asking the same .. but I don’t know anyone personally. Obviously lots of businesses are struggling at the mo’, and I realise we’re lucky to have jobs at all, but still..

It’s not a temporary cut - we’ve been told it’s permanent. It could take years to climb back up the pay scale

I would not be happy with a permanent pay cut, and I think that's not on. 20% is a big cut!

Just for balance, if you switch from having to go into an office to WFH, I think a pay shave could be justified - maybe not 20%, but all of a sudden you are saving time, petrol and vehicle costs or public transport fares.

I can read the original post thank you - I was posting in response to the pp who said that the public sector took a paycut in 2010/11.
There should be no way it should be asked to take another.
The public sector didn't cause this current shitshow.
Tory governments with their ideological austerity programme and their voters have contributed to it.
The very same hypocrites who are out clapping.

Unfortunately OP, after 15 years working in law, all I saw was corporate greed. Partners in law firms see nothing but profit and all this is is a reduction in their own personal pocket money.

I’ve worked for four firms in that time and I reckon only one would be prepared to cut their own pay for the sake of their staff.

During the last recession I was asked to drop 20% of pay but also 20% of hours. Guess what - the partners didn’t have to drop a penny. Mass redundancies were made in other departments but ours was incredibly busy and we had to make do on reduced hours (so basically still working FT but for less pay!)

I don’t blame you for being cynical.

We are being asked to take a 10% pay cut for 3 months. I am saving way more than this by not using public transport, doing any activities, paying for extra curricular activities etc.

I've had a 30% cut... Obviously I am not happy with it but I couldn't do anything about it.

DH work has just gone through the same. They have reduced their hours to 4 days. European colleagues get more day off because the French and German governments are topping up their wages. But the company said they'll run out of money in the summer if they don't reduce the payroll. It's either that or redundancy.

Furlough not an option because they earn more than £2500 a month on 80%

The government simply cannot prop up all businesses in the long term.

Oh, I'm sure it could, if they were run by the right people. Look at how much was sunk into the various rail franchises.

And banks

I work in a large accountancy practice, was very recently Promoted to partner, with 17% pay rise.

Today my firm furloughed 490 staff across the country.
Partners are being asked to volunteer for a 20% pay cut, on a temporary basis. We will be asked to be available 5 days a week (already wfh) but put in 4 days of hours across the 5 days.

My team of 6 have currently escaped furlough, but 3 are partners (one about to retire) and I am expecting the others to be put on a 4day week soon, with 20% pay drop.

It’s tough.

I’m very thankful I was promoted 2 months ago, I will be a little worse off now than previously. I’m also lucky to have a niche role and be very much needed by the firm.

I have not yet received official notification of the position. I also think the firm needs to be careful as furloughed staff can carry holiday forward, but working staff can’t? I hope this will be clarified soon.

In current times a temporary 20% pay cut would be ok, but to ask you to accept a permanent one is unfair and unreasonable.