Base pay cuts for traders announced today in the media to offset the new bonus scheme for them. Is this legal in the UK?
6 replies (most recent on top)
Bait and switch. They will do that.
It’ll weed out the low performer engineering careered folks. Once they realize they had it good in a technical role vs actually doing work and earning their keep.
Expect the churn of 2021-2022
Top tier traders wouldn't go for Exxon, they would go for glencore, vitol, trafigura, BP, Shell, list go on... Bottom of the barrels come to Exxon.
They probably requested it......traders making a ki-ling last year for the comp but they see not much of the gravy.
It is if you sign up to it. Don’t like it don’t sign it
It's being done to include a variable component