Wille Faler’s Buzzword Bingo

The Register reports that Barclays Capital is cutting the pay of their contractors by 10% over the board, those who do not accept the pay cuts will be allowed to work out their notice period.

I can sympathize with Barclay Capitals wish to slash 10% of contractor costs, but the way they are going about it is rather inept: they will annoy and alienate just about every contractor they use, which will hardly do wonders for morale, productivity and retention of high value individuals.
The fact is, some contractors may be grossly underpaid compared to the value they bring as it is, whereas others may be grossly overpaid or even surplus requirements. Why not try to identify the overpaid or surplus requirements contractors instead of using such a blunt instrument to cut cost?

..but then again, doing shrewd business moves can sometimes be hard work, and given the predicament that necessitated this move in the first place, shrewd business moves are probably not very high up on their agenda..

(Point of note: I do not contract for Barclays Capital, nor have I ever been affiliated with them in any shape or form).