Barclays Capital has slashed IT contractors' pay rates by 10% and told temps to take an enforced 10 day holiday before the end of the year.
According to a communication to temps, seen by tech news site The Register, contractors have been given until 11 November to respond to the take-it-or-leave-it offer with the new rate coming into force on 5 December.
The bank is "re-aligning" its rates with the "current market conditions, which have dropped suddenly in Q3 as a result of the majority of our competitors implementing similar initiatives".
Barclays Capital cuts IT contractor rates by 10% ... again - The Register