Yes, but that’s only because I’m get’n paid about 15% higher than what a guy in my market should make. I got some rediculous raises back in the 90’s.
Now I’m sweat’n bullets and hoping I don’t get laid off in the comming months.
No. Well, honestly, I’d say “yes” but then I’d be at a new job shortly. But, I know my skills are in demand and I know people who work at some of other firms. When I joined my current firm, I did take a very slight pay cut. But, I also swapped out a 70 mile round trip commute for a much shorter one. I also joined a firm with a better chance for advancement and so far, less stress.
Now, if I was a union autoworker and I knew I wasn’t likely to find another job and my skills couldn’t easily be used by another company, I’d do it.
No.
And fuck them in the heart for asking.
Yes!
Yes.
I like my job. I’ve had 3 factory jobs since I moved here. This one pays drastically more than the other two. I know that I make very good money for this area and even a 10% pay cut would be better than going back to those hellholes.
Wow. I thought I was cynical.
The company where I work just announced that although we will be getting bonuses this year (YAY!) we will not be getting our annual raise in January. “The situation will be re-assessed in June” – we all know this economic downturn will not change by then, so I don’t expect a raise next year or a bonus. So be it. This is the same company that, when gas prices went through the roof, suddenly started adding $10 onto everyone’s paycheck – to help us with our gas expenses. It isn’t much, granted, but no other company that I know of did anything similar. When gas prices came down, we were told that the gas incentive will come off effective January, so we could count on it through Christmas.
The company I work for isn’t “huge” – I’d say we have under 200 employees – but it sure as hell isn’t a “mom & pop” shop either. We are (IIRC) the 3rd largest in our particular niche.
If I were a scientist/engineer/technical person whose skills were in high demand, I could understand saying no to the OP’s question, but I’m not. I am still smiling, even knowing that I won’t be getting a raise next year, because a) I still have a job, b) I feel confident that when the economy comes back, I will be compensated for my loyalty, and c) meh, why not smile?
Some companies would. The company I work for gave me four months off with full pay and benefits when I asked to take a leave of absence (which would have been unpaid) to take care of my sick wife. I didn’t ask them to do it. They did it because my manager thought it was the right thing to do. They gave me tens of thousands of dollars for doing nothing at all and never once even hinted that I owed them anything.
I would take a pay cut if it meant that some of my co-workers would be able to keep their jobs through this recession. I know that many of my co-workers would be willing to do the same for me, because we have discussed this very thing. If we do have pay cuts, I am confident that the execs will share in the sacrifice.
My company did go bankrupt, and I’m out of a job now, so in a way, I did give up my pay, but before that,
no,
because I could tell they were going to fail with or without my money.
Yes. But like others I’d be looking for a new job.
I’ve taken the pay cut in the past, and been “paid” in stock. Sometimes you get more, sometimes you get hosed.
At a huge company I worked for, we were all sent a letter saying our expected end-of-year 4% bonus would have to be cut to 1% because ‘of unexpected developments / the market was down / times were hard /’.
OK, we shrugged our shoulders and tightened our belts.
Then the news broke that the Chairman had been awarded a 34% pay rise. :rolleyes:
It’s the only time I’ve gone on strike. :eek:
My company’s annual income is measured in tens of billions of dollars, so there’s really not much I’d be able to offer that could save them or even delay a BK for more than a tenth of a picosecond.
Frankly, if they were about to go bankrupt, I’d be on the next plane to Germany, hoping to escape complete death of the US economy.
Yes, probably. We just had layoffs. We were also told we couldn’t expect more than a 2% raise next year. We’d all happily have accept the news that we were getting a 2% pay CUT to keep anyone from losing their jobs. This is a great company to work for, and we’re a lot like family.
Afternoon!
It’s been an awfully long time since I wasn’t independently employed, but in retrospect, I’d have done it for some and not for others. Some companies I would have helped to survive because they were an asset to the community. Others were parasites and their demise would have been a good thing. So for me, it would depend on the company.
DH drove taxi for a while during the last recession and his pay literally halved. He stayed though, if only temporarily. - Jesse.
I understand why some people said no, I also have known companies that aren’t worth shit and treat their employees bad. But, is it worth quitting or being laid off and trying to find a comparable job in the current economy?
Realistically, if my company gave me the option of taking a paycut or being laid off because they would otherwise go bankrupt, I would take the paycut and search for a new job in the meantime.
This leads into a new direction, do you think the UAW will take this approach or will they gamble that the bailout will be enough?
Not willingly. But I wouldn’t quit, just because I wouldn’t want to deal with the hassle of finding something new.
I’m a teacher and there are a lot of things that I consider in addition to my salary. For the current school year we didn’t get any increases, but salaries weren’t cut. However, they took a huge chunk out of various funds of our operating budget, making our jobs more difficult. We had a brief “strike” at the end of last school year to protest, foolishly thinking that the School Board and County Supervisors cared what we thought. I recently did some research from the US Census website and found that our county has one of the highest median household incomes in our state, but one of the lowest teacher salaries. 
Yes. I like my job and finding another one would be a pain, especially in a bad market. I’d also much prefer to have everyone get a small paycut than see people fired.
No. My employer wastes beaucoup bucks on stupid feel-good crap and worthless programs and initiatives. Cut out that stuff first, then I might consider taking a pay cut.
Similarly, my company today announced that all merit-based raises will be re-assessed as of April 1st, as we will not reliably know our income stream for the next year until we know what’s happening in the first quarter of this year. I can’t understand why they do it. The majority of the people in my position - i.e. the people who do most of the actual work, as opposed to those who manage the work - make so little as to have a small impact on the bottom line. I have been at this company for almost two years, and this January was going to be my “big raise”; the first truly large jump from where I was hired at. I was very happy with my job up until today, on the theoretical loyalty scale I’d have put myself at a 90 or 95 percent. Immediately after the meeting where they announced the raise delay, I’d have put me at a 25, and it has dropped to a 15 or 10 over the course of the evening. I am one of the best workers the company has at my level, as evinced by the glowing review I just got, the title bump I am going to get in January, and the 10-15k raise I was going to get in Jan but am now going to get in April. What has this done? It has pissed me off. It has saved the company something like three thousand dollars, which is absolutely nothing in the scheme of things… and it has pissed off one of the best employees (I am literally in the top five out of ~100 people out of my office who do approximately what I do; I provide training and support services to most of that group so I am fairly sure of that). I go from thinking about deferring my law school application from a year because I like where I am and what I’m making, to sending out twice as many apps and lowering my standards. Most of my more capable coworkers feel the same way . . . while the less capable ones are the ones who are thrilled to keep their jobs and will stay with the company. What a stupid ass move by corporate. But hey, they’re the ones making the hundreds of thousand and even millions . . .