Worker pay
12 September 2012
Workers taking 40% wage cuts due to credit crunch
Employers are asking workers to take pay cuts of up to 40% in the wake of the credit crunch, according to a union.
Trade union GMB told the BBC that members had reported wage cuts in the region of 30% and 40%.
Martin Smith, senior organiser at the GMB, said: "We're also hearing on the grapevine from a number of our employers up and down the country that they're also feeling the squeeze, and they want to start talking about pay cuts and other ways of saving money."
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