Bosses impose pay freezes on workers.THE number of pay freezes has increased in recent months, with one in three firms now holding back from giving their staff a wage rise, new figures showed today. A study of 145 settlements in the three months to April revealed that average settlements had fallen sharply from three per cent to two per cent, largely because of the rise in the number of workers facing a pay freeze See abend. freeze - To lock an evolving software distribution or document against changes so it can be released with some hope of stability. Carries the strong implication that the item in question will "unfreeze" at some future date. . Incomes Data Services said its study showed freezes were common in manufacturing, but least likely to be imposed by finance firms. A separate study of management pay deals showed average awards in private firms of one per cent, down from 2.4 per cent at the start of the year. Ken Mulkearn, of IDS, said: "Following the delayering Delayering is a process for principles-based corporate restructuring and cost cutting trademarked by the Boston Consulting Group. It is a cascading organization redesign that proceeds from the CEO (Layer 1) to the CEO's direct reports (Layer 2), and so on through all employees. of the early 1990s recession, few firms have much spare capacity left to cut. As a result, many organisations are seeking to minimise Verb 1. minimise - represent as less significant or important downplay, understate, minimize inform - impart knowledge of some fact, state or affairs, or event to; "I informed him of his rights" redundancies and hang onto staff in the hope of recovery. "Pay freezes, and even temporary pay cuts are part of a strategy to avoid redundancies wherever possible." |
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