Flexibility helps save jobs
Around 26% of financial services workers have had their pay cut since the recession began, demonstrating how changing working terms has helped organisations avoid even greater job cuts.
This is according to a survey of over 1,600 workers by the Keep Britain Working campaign published today, which also found that 12% have experienced a reduction in hours, the lowest in the UK, and one in three (33%) have lost benefits, the highest in the UK.
Nevertheless recessionary pressures continue to impact negatively on job security throughout the country. More than half of all UK adults of working age are more pessimistic about job prospects this month than they were last month, according to the Keep Britain Working survey.
Overall 54% said they were more pessimistic about job prospects this month than last while 17% were more optimistic, giving a Job Optimism Index Score of minus 37.
James Reed, founder of the independent Keep Britain Working Campaign, called for people to add their ideas on keepbritainworking.com. He commented: "The UK workforce has demonstrated unprecedented flexibility during this recession, allowing organisations to explore a whole range of cost-cutting responses other than relying solely on redundancies. British workers are increasingly pessimistic about job prospects in the immediate future, but - and in contrast to parts of Continental Europe - overall workers appear to be making common cause with their managers to help keep people working."
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