Articles Related to pay cut

After working at a large Midwestern manufacturing company for 22 years, a senior IT design analyst understood that times were tough for her firm, so she didn't complain about the two per cent raise she got in 2003. But this year her empathy turned to irritation when her performance improved but her salary didn't.

A growing awareness of the collateral costs of laying off employees has companies searching for creative alternatives to handing out pink slips at the first sign of financial distress.

To cut costs, Hewlett-Packard Co. (HP) is asking its 88,500 employees worldwide to volunteer to take either eight-vacation days off without pay or a 10 per cent pay cut. Alternatively, employees may opt to take both four-vacation days without pay and a five per cent pay cut.