Yay, work the same job for less pay, work for more years and get less pension.

It's all turned out rosy, thanks you bucking fankers.

It will not end there. I suspect that bosses will take home even bigger pay packets this year.

Obviously. Because, despite outsourcing everything to the third world and putting tons of people on the dole, being an executive and entrepreneur you're a 'wealth creator'.

Jon

If my old employer had offered me a pay cut rather than laying me off, I'd have taken it without a moments hesitation.

I can understand that it is better than being unemployed, especially considering the cuts to benefits. Though the problem is many people are living close to bankruptcy already.

I think most people would, doesn't make it right though.

There's only so far that it's worth having a paycut. The other issue is will it remain at that point or will there be a rise back in wages once the recession's over? Don't think it'll happen!

It is ironic that a public sector employee is complaining. They've been riding gravy train for years and when somebody say "enough" they go up in arms
I think that society today sees having a job as a god given right. It doesn't work like that. If you want the benefit of market economy you have to accept the costs that come with it.
Everybody's labour has a price and it goes down as well as up. If you feel you are underpaid get a new job, a better paid one! If you can't do that just keep quiet as it is entirely possible that you are overpaid in your old one.

Now get your socialist torches out and start marching!!

Not all public sector employees have been 'riding the gravy train for years'.

I agree it is probably those higher up the managerial ladder who have been doing better than they should expect. The vast majority of public workers are just keeping their heads above water just like the majority of private sector.

Yeah, because being a hospital porter whose been outsourced onto a barely above being paid minimum wage job then being told they're going to be 'downbanded' to actual minimum wage, they've got absolutely nothing to complain about. As someone who has spent time in both the public and private sector, my experience is.. well, I rather suspect you're making a judgement on insufficient evidence.

We have something that's akin to that - essentially they've introduced a scheme were you can reduce your working week by a day in return for less pay - i.e. work 4 days a week for 80% of full salary. Couple of people with young kids have gone for it - the loss in wages is partially offset by the fact they don't have to pay for daycare one day a week.

I probably could do it - I"m rather lucky insofar as I have few vices to indulge so I have relatively modest financial requirements - however I doubt very much I could get my job done four days a week and nobody else is there to pick up the slack, so over time I'm just going to fall further and further behind until it becomes unworkable.

Jon

The thing is, you've probably had a pay cut every year for the past three or four years anyway.

Pay freeze + rising prices = pay cut

That's the problem, people are being asked, or forced, to take a further pay cut; in real terms.

You get the feeling the whole house of cards is going to topple any minute, and then the best place to be is working for a debt management company; because their phones will be ringing off the hook.

"Hello? Hello? Yes, I'd like some help with my financial situation. My name is Sylvio Berlusconi".

"Go to Ocean Finance and get one loan to consolidate all your debts into one loan."