More than 80% of staff at Blue and Prime Focus London have agreed to take a pay cut as an alternative to a programme of redundancies.
Company directors at the sister Soho post facilities proposed the measure as a way to combat the downturn affecting the industry.
The proposal was put to 235 of the two companies’ 290 staff. Following a two-month consultation, they were given until the end of May to decide whether to approve it, and all but two came out in favour. Those two employees are now leaving the company.
Some 55 junior members of staff were not asked to take a pay cut.
Blue and Prime Focus London managing director Simon Briggs told Broadcast: “The strength of this company is the people in it. Our absolute priority was to protect our employees and ensure we have the capacity to continue to win business and execute the work. The fact that staff have approved the scheme is vindication that they are as committed to the company as management are.”
The salary reductions will take effect immediately and remain in place until at least the end of 2009.
Briggs was unable to confirm exact details of the salary reductions but was adamant the company had been “fair and considerate in its appreciation of the impact it will have on staff”.