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Old 11-26-2008, 12:06 AM   #21
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According to this report, it looks like real wages could decrease by 0.5% next year in developed countries:

ILO warns of cuts in real wages for millions of workers in 2009 – Declines follow decade in which wages failed to keep pace with economic growth [Press releases]

42 y/o, married, retirement portfolio = 43 x annual expenses
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Old 11-26-2008, 07:13 AM   #22
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My Megacorp cut hours rather than pay. Pretty well received. Especially since bennies kept rolling in.

We just had less to do for the same billable rate. Seems to me if your pay is cut then the rate of the service should also be cut thereby raising the amount of work coming in (in the long term). Problem being, I think lots of companies just lower the labor cost without lowering the product/output cost (producing a loose-loose situation, in the long run).

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Old 11-26-2008, 07:52 AM   #23
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This is what I'm fearing. Sure what happened at my company is just one employer, but it's extraordinarily unusual, they've never done this much before, especially during a time when the company is still doing well.

Originally Posted by FIREdreamer View Post

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