Pay cuts preferable to redundancy, say UK employees

Fri, 4 Dec 2009

More than two-thirds (69%) of UK employees would be willing to take a pay cut to avoid redundancy, according to a poll from job search engine Simply Hired.

The poll highlights that 37% of respondents cited fear that they would not be able to find a new job as the reason to accept a pay cut, while 32% would be willing to take a pay cut if it would also help their colleagues keep their jobs.

However, 29% of respondents would not take a pay cut, believing that they could find a new job that would pay their worth.

Sachin Shah, director at www.simplyhired.co.uk, says: “The recession has left many employees questioning their worth; however it is clear that employers have more options to keep business productive and employee morale uplifted without having to go through the extremes of a redundancy.”