British Airways staff have agreed to work unpaid to save the company money
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Anxiety is soaring amongst jobseekers as unemployment levels hit a 12-year high, at over 2.2 million.
According to research by Interviewgold.com, 44% of jobseekers would consider taking a drop in salary in a bid to gain employment, and 28% would consider changing career altogether. Joe McDermott, CEO of Interviewgold.com says, ‘These statistics illustrate just how difficult the job market is at present. Despairing job seekers seem to be willing to go to any lengths just to get a foot in the door. Many people see targeting lower paid positions as an easy way to get work, however it’s actually more difficult as employers are reluctant to employ overqualified applicants as they fear they will leave as soon as something better comes up.’
In an unprecedented move, struggling British Airways asked their staff to work for free for a month or opt for blocks of unpaid work, with salary deductions spread over three to six months. At least 800 agreed and thousands more agreed to pay cuts, helping the airline save up to £10m. Earlier in the year BA reported an annual loss of £375m, blaming the recession and high fuel costs. BA’s Finance Director, Keith Williams said of the results, ‘This is a fantastic first response, I want to thank everyone who has volunteered to help us pull through this difficult period. This response clearly shows the significant difference individuals can make.’
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