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I'd start looking, but at least they are keeping people on at reduced salaries rather than just laying them off
Wow that’s a huge cut
Yeah, I’d start looking, for sure
That cut seems very high. In the 2008 crash, the agency temporarily cut salaries for staff by 5%… middle managers by 10%… and leadership by 20%…
It was hard but I preferred the 20% cut to layoffs. Salary went back in less than 12 months…
You should start looking but it’s rough out there, good luck!
Bowl Leader
It is very high..
Rising Star
How much of the end of year bonuses did the C-suite forfeit?
(Their salaries are peanuts compared to their backend pay structures. That’s where most of their yearly earnings come from)
Bowl Leader
I completely agree. I’m frustrated
Did the company invoke an across-the-board percentage decrease or was it a dollar figure reduction based on your position? Things for you to think about before making the decision to leave: (1) How does $100,000 compare to the market salary for that position? (2) How long ago was it since you earned $100,000 at this company? One year? Two Years? Longer? (3) Not considering the pay, do you enjoy working at this company? How are the benefits? (4) How many years do you have invested at this company? On one hand, the "We're all in the same boat, so let's row together" is a noble sentiment, but it isn't really fair to anyone. The purpose is to avoid layoffs. The company wants to avoid layoffs because it obviously needs the current number of employees on deck to do what needs to be done. Cutting staff means cutting productivity which means the need to cut more staff, etc. Consider your options and what's best for you before agreeing to take part in the "All for one and one for all" party.
Advertising is over
I’d start looking, although I hear it’s a tough market out there right now, so may take some time.
They may get rid of you before you expect it No one is invaluable start looking yesterday