Poll: 25% of managers take pay cuts

MORE than half of private companies surveyed plan to slash jobs over the coming months while one in four managers have already taken a pay cut.

Research conducted by employers group, IBEC among private sector firms found pay freezes are very much the norm across the sector with almost two out of three companies putting staff wages on hold since the start of the year.

The survey found that pay cuts had been implemented for 18% of salaried staff and 10% for production workers.