Would You Take a 10 Percent Pay Cut to Save Your Coworkers' Jobs?
Would you take a 10 percent pay cut to save your coworkers' jobs? The Los Angeles Times columnist Steve Lopez recently posed that very question in conjunction with a story on the city of Los Angeles's efforts to close its budget gap; the city sees some 4,000 lay-offs on the horizon. Those lay-offs could be avoided, Lopez writes, "if all city employees took that cut, in which someone making $50,000 would see a drop to $45,000-no insignificant amount."Many non-governmental businesses are still feeling the pinch of these economic times, so most of us can probably relate. Would you take a 10 percent pay cut if it could save your coworkers jobs?Photo (cc) by Flickr user _e.t