sbh1602
Playoffs? Playoffs?!
The honorable thing would be that these cuts extend to everyone else. Up until, say, if you make above 1M a year, you get a 70% cut.
My company did this once, during the crash of '94 (I live in Mexico). As senior executives, we took higher pay cuts than the employees, though everyone chipped in. It hurt quite a bit in the short term (I remember considering selling my house to get by) but by the end of the crisis we had a very loyal workforce, one that up to this day keeps us running strong - and one that supported us years later when we faced some tough times internally.
It's not just the moral thing to do. It's smart business.
My company did this once, during the crash of '94 (I live in Mexico). As senior executives, we took higher pay cuts than the employees, though everyone chipped in. It hurt quite a bit in the short term (I remember considering selling my house to get by) but by the end of the crisis we had a very loyal workforce, one that up to this day keeps us running strong - and one that supported us years later when we faced some tough times internally.
It's not just the moral thing to do. It's smart business.