IT contractor cuts 'not widespread'

Posted on 27 June 2008

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Reductions in IT contractor fees witnessed in North America are not likely to be seen across the UK sector, it has been claimed.

In news which may reassure contractors concerned about their future employment opportunities, the managing director of IT recruiter Cititec Associates has refuted claims that all workers would be affected, reports Recruiter.

Stephen Grant said that although five major US investment banks have cut contractor rates by an average of ten per cent, only those most affected by the credit crunch were taking such action.

He added: "Most of my ledgers have not been cut. Many banks are still doing well."

Contractor Calculator has claimed that highly-skilled contractors should not be affected by any reduction in rates and work opportunities as they will still be in high demand.

Meanwhile, the Recruitment and Employment Confederation has suggested that firms may increasingly look to contractors and temporary agency workers to ease them through the current economic slowdown.

Category: Contractor News

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