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No, not my problem if they are having financial problems. Most people here live paycheck to paycheck and a pay cut would result in bills not getting paid.
Would you ever take a wage cut if it meant the survival and/or longevity of the company you work for?
The question doesn't express the choice as it is typically presented. The reality is that it is presented, "Would you take a wage cut to help your company survive, or instead would you quit?" I've never heard of a circumstance, except perhaps with regard to isolated HCEs, where the employee got to choose between participating in a pay cut versus keeping their current salary and benefits unchanged.
My company did this twice - both times during periods just after financial collapses when finding another job at a high rate of pay was a non-starter. Effectively, the company saw that the value of human work got devalued, and took steps to capitalize on the opportunity by reducing salaries across the board. As the employment situation improved (i.e., as their top employees started finding new jobs at higher pay), the company claimed magnanimousness in restoring previous salary levels.
There were some really significant adverse impacts on the business from implementing pay cuts. While the company's leaders made promises to return to a normal progression of cost of living and merit increases, whenever the company fell behind the leading edge of the recovery, due to corporate budget limitations, employees secured other considerations. Some didn't have significant negative impact - others did.
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