Survey shows pay cuts at one in five companies

Survey shows pay cuts at one in five companies

Business group IBEC has said a fifth of companies have implemented pay cuts this year.

The latest business sentiment survey reveals that over half of all employers have cut jobs and almost 60% have announced pay freezes.

IBEC has renewed a call for a new national wage agreement claiming such a deal is needed to reflect the current economic downturn and to protect jobs.

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