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I think most industries could do way better by cutting exec and management pay during hard times than laying people off entirely. The layoff, rehire cycle is a

I think most industries could do way better by cutting exec and management pay during hard times than laying people off entirely. The layoff, rehire cycle is a clear demonstration of how management wants to have their cake, eat it too, succeeding at it for a short time and then complaining that they can't find any workers.

CydeWeys 5y ago
My first company did that through the 2008 recession and it was really nice of them. Nobody got raises and nobody got bonuses (which significantly impacted higher-ups more as much more of their pay consisted of bonuses). The three co-founders barely even took any salary at all. But no one was laid off. All that happened was that one guy who had temporarily left to finish a master's degree wasn't rehired as expected (I think it also didn't help that he wasn't that good).