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Unemployment pays significantly less than your job. Of course I wouldn't be happy about it but I would absolutely take it, and immediately start looking for another job. I assume most people with a family would do the same but maybe I'm wrong.
I‘m international and rely on keeping my job to stay in the country. Of course I’m taking the pay cut.
Same would be true for many people who have family, elderly parents, mortgages, educational debt, come from less wealthy backgrounds….. the “no way“ attitude sounds kind of detached from many people‘s reality lol
Unfortunately I would. Probably do the same as D1. I’ve been laid off too many times and it’s too unpredictable if/when I’d get another interview.
This actually happened to me during the pandemic. Our whole team was put under a pay cut (and I made a fraction of what I make at my current job without the pay cut in question).
It sucked, it was hard. It was for most of a year. I was also very fortunate that that's the worst I suffered while millions of people lost their jobs. Unemployment where I live wouldn't even pay 25% of my rent let alone any of my other monthly bills, and you can only be on it for like 12 weeks or something. So... yeah, from firsthand experience I'd prefer a pay cut over losing my job if circumstances were like that again.
Id take it but the quality of my work would decline proportionally
Spoken like someone who doesn’t have any real financial commitments or family dependents 😒
I might be missing the point of the article. If the deal was entire company takes a paycut and no one gets laid off, I would accept. If it was offered to me individually, I’d opt to be let go. & yes I have a mortgage, car payment and kids
During the early days of Covid, staff at EY were asked to go on a FWA as a way for the firm to cut expenses and prevent layoffs
Going off the data from the article, its not massively popular the idea of taking a pay cut, but if the other option is months laid off on unemployment, I think that the option is clear for a LOT of people. IMO, more than the only 20% that said they would take a cut.
You have to remember that even in high paid positions, a lot of people have large expenses that will quickly kill any savings.
If I had my pick of which to lose, would probably be most likely to move positions or teams with all other things remaining equal, it would make the most sense.
I would be willing to have a temporary drop of a week or maybe 2 from PTO, but SAP gives out a huge PTO each year.
I couldn't really relocate my family just because of my job.
I wouldn't want to take a pay cut, but if it kept me employed in the short-term, I would have to take it. HOWEVER, I would also start looking around at new positions in the company and elsewhere to regain that lost income.
From the article:
39% said they would be willing to switch roles to keep their jobs.
39% also said they would be willing to switch teams.
24% said they would be willing to return to the office and thus give up working from home.
19% said they would be willing to take a pay cut.
14% said they would be willing to relocate to another office.
12% said they would be willing to give up paid time off.