[IslandCrow]

BBC Link

This report is significant, in my opinion, because of the number of workers involved and the agreement of three unions.

Workers at steelmaker Corus are reported to have offered to take a 10% pay cut to preserve their jobs.

Three unions representing about 25,000 staff have come up with the proposal to accept less cash for six months, according to the Financial Times.

I know that this line, of taking pay cuts, is one that I will adopt to try and keep my job in a time of recession/depression.

[Quinny]

I know many on here disagree, but in my experience Unions have a positive influence on industrial relations and tend to take a more sensible view than management/owners. If things are going well they want a cut of the pie, if not they take a realistic POV.

[idiom]

I know many on here disagree, but in my experience Unions have a positive influence on industrial relations and tend to take a more sensible view than management/owners. If things are going well they want a cut of the pie, if not they take a realistic POV.

It depends on which country you are talking about.

[bodigami]

I wouldn't take a pay cut in salary if it isn't accompanied by a cut in worked hours.

[Tyler_JC]

I wouldn't take a pay cut in salary if it isn't accompanied by a cut in worked hours.

Therein lies the problem.

Companies need to cut labor costs if the price of their products is falling.

That's why you need a little bit of inflation. It allows unprofitable firms to reduce real wages without reducing nominal wages in order to return to profitability.

[idiom]

I wouldn't take a pay cut in salary if it isn't accompanied by a cut in worked hours.

For a start, I dunno why not. However if sales are down then production needs to slow down, so their hours need to drop.

On the other hand, the sales team needs to keep on plugging.