Would Accept a Five Percent Pay Cut to Avoid a Layoff?

Would you take a cut of five percent or more to avoid a layoff? Take this survey to share your views with library employees like yourself. We will publish anonymous comments in the February issue of Library Worklife.

A similar survey by MSNBC.com received passionate, and wide-ranging, response. Among comments submitted by readers:  
“You better believe it. Even a 25 percent cut in pay is better than being out of work. At least I would be able to pay my bills without relying on unemployment. The production schedules . . . have been reduced by more than 60 percent. I am proud to say our leadership saw it coming and made adjustment to avoid layoffs.” 
“I’ve already got hit with a 10 percent cut. It was either take the cut or hit the street. In this economy there isn’t any choice. I am glad to have a job. I know the alternative. There are people standing in line for jobs.”

” I would give up 5 percent to help another American hold onto their job, because in the end, every job that we lose, it will chisel a little more away from the foundation of this country. It will leave families in ruin.”

“After 23 years at the same place, I earn $21.13 an hour and would be willing to do so. The UAW pay scale is ridiculous, as are the so-called bonuses of the elite. I should not have to pay to bail out any of those people, but as it stands, I will.”

“No, absolutely not. My wife and I own a home, both work full time and have two kids getting closer to college . . . We have already cut back on what we can put in the bank for savings. We have a hard time saving just as the person across the street from us does, and we are not going to go into our savings if we don’t have to. The people on Wall Street should be held responsible. Where was the regulation?”

“I would be glad to only take a 5 percent pay cut. I work in the real estate industry and we have taken over a 50 percent pay cut. Where is our bailout?”

“No, I am not willing to take a pay cut until the senior management reduces their pay and incentives. The senior leadership pay and benefits need to be more in-line with the pay and benefits received by the employees.”
“I wish I could take a pay cut to save jobs, but I don’t make enough to even survive myself.”

“No, I would not take a pay cut. My raise this year was 1.8 percent. I worked for TWA and have been down this road before. It just doesn’t work. Most people are struggling today in our country and we’re all feeling the pinch.”