Winners and losers in the credit crunch

Co-operative John Lewis gives staff a 13% bonus, whilst British Telecom freezes staff pay... wonder what the latter will do for their motivation? Toyota have also cut both working hours and pay as the credit crunch continues to bite.

So what really motivates workers? If you worked for BT, would fringe benefits or non-financial rewards keep you there in a pay freeze? Or can BT rely on their staff's worries about finding them another job to avoid the problems of high staff turnover? Or is it just that they are in such dire straits that they have no choice?