Tuesday, February 14, 2012

The pay cut will amount to an average of £4,050 per person

Printers vote for 13.5% pay cut

The staff at plants in Bicester and Banbury voted by 4-1 in favour of the cut, on a turnout of 83.5% of the 550 employees.

Posted by mark @ 01:23 PM (1999 views)
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21 thoughts on “The pay cut will amount to an average of £4,050 per person

  • De La Rue are carring out a similar exercise.

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  • jack do you think this is a sign of the future pay cuts rather than rises

    what they need to do in this country is reduce the minimum wage it is too high for certain types of work, girls who used to work in machining etc could earn pretty good money when they were paid on a per item completed basis now this has changed because of min wage and girls don’t earn anywhere near as much as such they don’t work as fast, a friend of mine who owns a clothing manufacturing business has seen min wage as a burden and has actually reduced his staff wages by half

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  • jack do you think this is a sign of the future pay cuts rather than rises

    what they need to do in this country is reduce the minimum wage it is too high for certain types of work, girls who used to work in machining etc could earn pretty good money when they were paid on a per item completed basis now this has changed because of min wage and girls don’t earn anywhere near as much as such they don’t work as fast, a friend of mine who owns a clothing manufacturing business has seen min wage as a burden and has actually reduced his staff wages by half

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  • Mark, I personally see it as a taste of things to come – De La Rue are typically reducing wages by 20%.

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  • hmm wonder why it posted twice

    i notice a few councils have done the same

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  • Mark, perhaps we could look at Greece (on a diluted scale) as an example of what happens next?

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  • people deciding rioting and destroying their country is better than work, yeh that would happen here after all very few people in this country work lol

    I see a head of a council has been sacked for we wont ask something to do with money

    another council someone resigned over inappropriate use of public money because he couldn’t stop the council continuing to waste this money

    tip of the massive titanic sinking iceberg

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  • They wouldn’t need a cut if we got rid of VAT. If we got rid of National Insurance, they could hire more people and get rid of the dole que, but I forgot, government want the people to be dependent, or they will not have any leverage to impose their social engineering public policy.

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  • Is that money printers. I guess they have enough work coming their way.

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  • libertas, wages are a huge part of manufacturing hence why we cant compete with china, vat is irrelevant

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  • @libertas – you remind me very much of Planning4acrash who was at one time a regular contributor on here

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  • I’m not suggesting this was the case at this firm and I’m not making an “I’m alright Jack” statement but for the last 40 to 50 years we’ve been paying ourselves too much from the boardroom down to the person who used to sweep the factory floor, without a commensurate rise in productivity.

    In other words, we make ourselves uncompetitive in the world market place which does not bode well for the growth required for a genuine economic recovery and not one simply based on the financial sector.

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  • ontheotherhand says:

    These worker agreed cuts in pay seem to dispell the mythical deflation bogey that economists use to argue we need to print money like billyo. The argument is that a little inflation is always needed so that employers can effect real pay cuts without having to enforce nominal pay cuts. I really don’t understand why deflation is supposed to be a bad thing. They also argue that people will put off spending decisions if they believe something will be 2% cheaper next year. I also reckon that is nonsense or 100% of the population would wait for the sales every season or put off buying the latest iphone because it will be 20% cheaper in 6 months.

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  • @ Mark: “vat is irrelevant” – A 20% tax on TURNOVER is irrelevant?

    Fantastic, does that mean that you won’t mind if I rob you of 20% of all your household income? You said it was irrelevant, right?

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  • @ jack c,, sounds like a great chap. Shame he isn’t here to back me up.

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  • crash bandicoot says:

    libertas – he was banned because he was frickin mental. Don’t take it as a compliment.

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  • @OTH

    Like you I don’t understand the fear of deflation, surely a fall in prices is more advantageous to the average person?

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  • @mr g

    Deflation is feared because it is a self-reinforcing spiral. However this is no more so that inflation can become self-reinforcing.

    The main reason it is not liked by central bankers is that it removes central control of the money supply. Its an absolute boon for the consumer though of course.

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  • It is amazing really that the meeja gets away with labelling cheaper prices A Universally Bad Thing.

    So deflation is undesirable, but no-one can tell us why.

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  • libertas wages make costs higher, you obviously dont run a business

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  • libertas let me explain from a business point of view why VAT is not important

    1) I employ staff who used to work on a piece work basis, they were paid 50p per item made, they could make 30 per hour = £15 per hour

    2) min wage comes in, piece work has a calculation making it around £8 per hour, staff are no longer incentivised as they are now paid the base rate so they now only make 10 items per hour

    3) my costs have now shot up

    4) i now buy from china buying the same items made to same quality for less than in number 1

    5) i pay VAT when i import them

    6) i paid VAT on my supplies in the beginning

    VAT has made no difference, only the wage made a difference – now several people are on dole because of min wage and china has the work – but wait I saved even more costs no longer having to supply a kitchen and other perks for the workers, I can now move into smaller premises i can use for storing items as I no longer need space for the kitchen and places for staff to work from, overall I saved even more money, but I still pay VAT – VAT made no difference to me

    min wage should be dropped to £5 per hour and removed for people who prefer to work on piece rate, the fast machinists prefer piece work

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