5% pay cut OR 4 Days a week

[l.m]

Due to the company I work for, not making money this year!! they have asked employees to choose between the option of a pay cut or to go on a four day week.
I've worked in the company for the past 6 years, 39 hour week. I have been asked to sign a consent form, to confirm the option I wish to take.
I'm wondering how this will affect the posibility of redundancy in the future and the legality of the above.

 

[papervalue]

Due to the company I work for, not making money this year!! they have asked employees to choose between the option of a pay cut or to go on a four day week.
I've worked in the company for the past 6 years, 39 hour week. I have been asked to sign a consent form, to confirm the option I wish to take.
I'm wondering how this will affect the posibility of redundancy in the future and the legality of the above.

would a 4 day week not be a 20% cut?

i think if you are made redundant in future they take you current pay level. depends what gross you are currently on.

dont think social welfare will cover 1 day off a week-not 100%sure

 

[shipibo]

You do not need to sign but if company is losing money they can shorten your work week.


Only 3 day week collects dole

 

[JellyBelly]

I know this is off the oint, but working the same hours for less pay is bad, working 4 days on less pay might give you a chance to upskill, do a course you have never had time to do, even home study? Just a thought...