It seems that umbrella contractors working in the IT sector have decided to accept lower pay rates from Clydesdale Bank in a move that has left some experts shocked.
Because one of the most embattled banks in the world hasn't had enough bad publicity: now Barclays has declared it will be slashing contractor pay soon.
Well it's about time we got some good news: the Office for National statistics says that the economic situation for a good number of Brits is on the increase.
It's a bit queer when the demand for skilled, qualified IT contractors is on its way up even as pay rates for many IT workers are being slashed significantly.
Only 25% of temporary workers in London saw a decrease in the number of freelancers and umbrella company contractors in the companies they worked with last year.
IMS Executive Ltd recently conducted a survey of 2,000 public sector Interim Executives, including those from umbrella companies, to find out how willing they would be to reduce their daily rates.