Blog entry by Antonia Oguntubi

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by Antonia Oguntubi - Saturday, 1 August 2020, 7:41 PM
Anyone in the world
“I’d much rather take a pay cut than see one of my fellow employees lose a job, especially in this economic environment,” she added. “Where are they going to find work?

This comment resonated with me, I completely enjoyed reading this article as I nodded in agreement to shared sacrifice. Indeed we are in really tough times and as the saying goes half bread is better than none.

I commend the companies that have taken the initiative to cut lower-level staff salaries by 10-30% and senior-level by 50%, as we can see from KVH Industries it really is a better alternative than laying off completely.

It’s interesting how this trend is the complete opposite of what was obtainable in the past when salaries were held as sacred, but the truth which was clearly stated in the article is that it is expensive and time-consuming to hire them back.