I've never been laid-off, but back in the early 2000s when the internet bubble popped our company was going to have to lay off some people. They instead opted

I've never been laid-off, but back in the early 2000s when the internet bubble popped our company was going to have to lay off some people. They instead opted to let us decide whether to lay off some people or for everyone to take a 20% pay cut. We opted for the latter. So while no one was laid-off, I was impacted by a possible layoff.