It will be another tough year for employees in 2010, with an increasing number of firms planning wage freezes or pay cuts and others axing perks such as gym membership and free healthcare. The latest monthly business survey by the British Chambers of Commerce found that 63% of the 260 companies questioned were considering pay restrictions and 18% were looking at the removal of benefits.
This follows a year in which pay has been held down across the private sector, with 40% of firms estimated to have frozen wages. The persistent squeeze on pay is a sign that companies do not see the economy improving dramatically in 2010.
The Guardian