Home Business news The Bank of England fears worker power, but most are taking a...

The Bank of England fears worker power, but most are taking a real-terms pay cut

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Conditions have improved for a select few but on wages and flexible hours, the trend for employees is generally backwards. Can the rate-setters grasp that?

Goldman Sachs has bowed to demands for a less stressful workplace by offering a “flexible vacation” scheme that allows senior bankers to take a holiday whenever they feel like a break.

Generosity further down the investment bank’s global chain of command is more limited: it has told traders and admin staff – who are notorious for taking breaks lasting just a day – that they should disappear for at least one solid week out of the minimum of 15 days.

Continue reading…Conditions have improved for a select few but on wages and flexible hours, the trend for employees is generally backwards. Can the rate-setters grasp that?Goldman Sachs has bowed to demands for a less stressful workplace by offering a “flexible vacation” scheme that allows senior bankers to take a holiday whenever they feel like a break.Generosity further down the investment bank’s global chain of command is more limited: it has told traders and admin staff – who are notorious for taking breaks lasting just a day – that they should disappear for at least one solid week out of the minimum of 15 days. Continue reading…