IT contractors get squeezed Thursday, October 30, 2008
Following moves by RBS, Barclays, Deutsche Bank, Merrill Lynch and Nomura in demanding their IT contractors take a 10% pay-cut or lose the possibility of a contract renewal, JP Morgan has now demanded a 15% cut or else face being given notice.
In the current market, most contractors will have little choice but to agree, given the scarcity of roles available elsewhere.
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Labels: JPMorgan Chase, Merrill Lynch, Royal Bank of Scotland
posted by John Wilson @ 3:42 PM Permanent Link
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