A stark choice.
Once these compulsory furloughs are added to the reduction on a typical six-month contract, it equates to a real-term pay cut of almost 20%, one affected contractor told ContractorUK.
That makes Bank of America Merrill Lynch (BoAML) the biggest IT contractor rate-cutter so far this year.
Despite this, when confirming the pay pinch yesterday, a BoAML spokesman is aid to have pointed out that affected IT contractors “were able to use their discretion to manage certain aspects of the adjustments.”
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