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Employees ‘conscious’ of the labour market


The majority of British workers are conscious of the UK labour market and what changes are occurring in it, according to one sector analyst.

Duncan Browne, director of reward services at the Institute for Employment Studies, said that most of the country’s employees know of somebody who has been made redundant in the last year.

His comments came after a survey conducted by SimplyWired showed that 29 per cent of UK workers would not be willing to take a pay cut to save their job.

However, Mr Browne claimed that there have been hardly any pay cuts made, mainly because of the legal implications of doing so.

“I haven’t seen pay cuts. [But] if you said to me – would you rather have a pay cut or do you want to lose your job, I’d have said ‘yes’. The general situation is that unemployment has gone up to 2.5 million,” he explained.

 

Author: Chris Slay

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