More doom and gloom in the car industry
by Sarah
Toyota have announced that they are to cut pay and working hours in the latest cost cutting measures coming out of the car industry. Staff will be faced with a 10% pay cut effective from April. In the article Vauxhall to date seems to have had a slightly better time than its rivals. You can read the full story here.
The car industry is not unique in its cost saving quest. We have had a number of enquiries concerning cost saving measures such as unpaid leave, short time, lay offs, redundancy, freezing pension payments and pay cuts. Many employers are finding that employees will agree to halt bread tomorrow as long as they get bread today, such as stopping pension payments. This is better than having to cut the workforce and people would rather keep a job.
No sector seems immune, solicitors are no different with our trade papers full of redundancies and job cuts and the biggest numbers are falling in the city. On the plus side it is not all doom and gloom some corners of the marketplace are seeing turnover and profit increase such as supermarkets, as we all stay in instead of eating out.
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Which firms in UK consult their employees? « flowing motion said at March 12th, 2009 at 12:10 am