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The Business Desk with Paul Solman

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How Are You Sharing the Pain at Work During This Economic Downturn?

The economic downturn has left few industries untouched, and companies across the country are resorting to drastic cutbacks in jobs and spending. But many organizations are also encouraging workers to "share the pain" of the downturn -- by accepting lower wages, reduced hours, and fewer benefits in order to avert layoffs.

Stephanie Artley, a worker at the Conn-Selmer musical instrument plant in Elkhart, Indiana, recently put the experience to me this way:

It's kind of like who gets in a lifeboat and who doesn't get in a lifeboat. So I think it's better that we all get an oar and just kind of paddle along and keep each other floating.

I'd like to hear more about how this "share economy" is affecting workers across the United States. Have you been asked to cut your hours or accept a lower salary so that your employer can avoid layoffs?

You can share your story by clicking on the "comments" link below.

-- Posted April 3, 2009 | Comments (5) | Permalink

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5 Comments

Kathy Angel said:

145 people have been laid off from my company. No deals were offered. I'm currently doing my senior paper on human resource sustainability. I'm hoping to get my degree before my turn comes. I've been in this company 24 years. I'm interested in hearing the comments.


 
chris kindle said:

I'd like to hear more about how this "share economy" is affecting workers across the United States. Have you been asked to cut your hours or accept a lower salary so that your employer can avoid layoffs? I'd like to hear more about how this "share economy" is affecting workers across the United States. Have you been asked to cut your hours or accept a lower salary so that your employer can avoid layoffs?

My answer to your questions is yes and no. No, my number of hours is not cut and yes, pay increase this year is not possible so it is like accepting a lower salary job. Bottomline, I still have a job to pay all the bills.


 
Betty said:

At the company where I work, they laid off 40% of the # of workers. These workers a very small amount of termination money. Reduced number of work hours for us who were not laid off.


 
Colleen said:

We've been told there will not be merit increases this year, tuition reimbursement has been capped, matching 401k contributions has been suspended, 10% of the workforce has been laid off, wellness programs have been suspended, employee appreciation events have been suspended or scaled back, and we have all had to take time off without pay. But none of us is complaining because we know it could be a lot worse.


 
mento said:

My company tried to cut the lay off although it was inevitable. But to lessen the blow, we got to agree on ourselves that a little sacrifice from each of us(like all extra works are shared by the dept) so we could get through this crisis all alive.


 

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