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Employers Moving From Furloughs To Outright Pay Cuts


First Posted: 08/04/10 12:24 AM ET Updated: 05/25/11 06:15 PM ET

New York Times:

The furloughs that popped up during the recession are being replaced by a highly unusual tactic: actual cuts in pay.

Local and state governments, as well as some companies, are squeezing their employees to work the same amount for less money in cost-saving measures that are often described as a last-ditch effort to avoid layoffs.

A new report on Tuesday showed a slight dip in overall wages and salaries in June, caused partly by employees working fewer hours.

Read the whole story: New York Times

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Filed by Jeff Muskus  |