Would you take a £400 a month pay cut because the management had screwed up the finances?

[verdantverdure]

And how would you feel if the boss told you to “hold your nerve” when you complained?

More detail is needed.

id assume they were in trouble and be looking elsewhere

What?

I would assume the companies going under and start looking elsewhere pronto. I couldn’t afford a £400 drop

I would want more information to start with but I would be looking elsewhere.
If my employer cut my wages out of the blue with no explanation I would be desperately seeking another job.

Is this about the govt telling people to hold their nerve over mortgage rates? If so, just say it.

Ah, I think you're right.

OP just say it and ask for a opinion/discussion, I hate threads like this they're not clever.

I’d feel confused and ask exactly what ‘holding my nerve’ was supposed to entail.

Ah yes. Can see it now.

No, because it would be a third of my wages.

But, yes, I can deal with current interest rates, and a small amount more. However, I started adult-life with base rate interest rates around 5%, and have taken drops in interest rates as bonuses rather than extra spending money. I was lucky enough to be born when I was.

Maybe it's not just the managements fault? Maybe it's the employee for maxing out on debt when the interest rates were virtually zero (and can only go one way) and not thinking what might happen when they inevitably go up

Well shouldn’t you have read your contract before you signed it? Then you would know that interest rates can rise.

If you can get a better job, then it might be best to do so.

In the meantime, I'll get a cup to collect the drips as you feed them in to the thread ;)

Start interviewing elsewhere immediately and leave asap. If they can't afford the salary due to "management screwing up the finances" then what exactly would mean they do any better in future?

Has management changed? Has the economic climate changed? Has the business changed?

Secure your income.

Is this going to be some wired metaphor for the increase in the cost of living and wanting to change government?

Guessing so.

but a really bad one.

You got me.

Raising interest rates to cut inflation by reducing how much people have to spend is the same as a pay cut isn’t it?

Just for millions of people.

Not if you don't have debt.

Or don’t rent from someone who does?

YABVU for the drip feed - & no, it's not the same as a reduction in salary.
& the millions of people that no longer have a mortgage or rent social housing won't be affected.

One of the things that concerns me around using interest rates to control inflation is that a far smaller percentage have mortgages now (37% of the population) - a combination of people living longer & staying in homes with no mortgage, and young people finding it harder to get on the property, combined with the fact that many mortgages now are arranged on a fixed rate basis, means that interest rate changes are a far less impactful tool to control inflation than they were in the past.

Plus pissed off that the banks don't pass on interest rate increases to savings accounts.

Hmm, well silly me, I thought the thread might be interesting...

No, because I am a management consultant with a daily rate of + 700.
However, if I had been working with that client, I would have failed.

Oh for chuffs sake. If reverses weren't bad enough we now have metaphor posts. 🙄

Oh for fucks sake

NO ONE LIKES REVERSES OR PEOPLE TRYING (AND FAILING) TO BE CLEVER

Worst thread ever