The current economic environment is very tough indeed. Companies are looking for ways to cut costs in order to make their numbers and remain profitable.
One large company I know announced to its employees last week that it was not going to lay off people (in this round); rather, it cut all the employees' salaries down by 5%. Uniformly. Across the board. No differentiation between the lean parts and the fat parts, between the money generating divisions and the money spending divisions. Flat rate.
For a society which advocates capitalism, large American corporations are surprisingly socialistic.
Zzzzz...
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