Daily Archives: March 8, 2012

Consumer prices up 9.6% from 2011, my boss wants me to take a 10% pay cut. What do I do?

Barbados workers between proverbial rock and a hard place

Dear Barbados Free Press,

I read in Sunday Stabroek that Almond Resorts is failing and has been a money loser for Neal & Massey since day one, and that the staff have been asked to take a 10% salary cut to help with an employee buy-out.

Then today I read Bloomberg and discover that Consumer Prices rose 9.6% in 2011 according to the Barbados Statistical Service. I didn’t need to be told that as I see it on every bill I pay (food! petrol!) and I think it is low if anything at 9.6%. I think it is way higher.

Combine the 10% salary cut with a 9.6% price increase in every area and you see what I mean when I say that ordinary Barbadians are between a rock and a hard place. I don’t know how much longer I can personally take this but at least I still have a job.

(name withheld by request)

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Filed under Barbados, Consumer Issues, Economy