> When market conditions chance, companies need to adapt I agree with that part ^ Let me frame this more broadly. _How_ and _when_ should companies adapt? The

> When market conditions chance, companies need to adapt I agree with that part ^ Let me frame this more broadly. _How_ and _when_ should companies adapt? There are many ways, across many timescales. I'll give a made up example, hopefully in a reasonable ballpark. A company needs to save $250M / year. Let's say there are three options under consideration, not mutually exclusive / can be blended: Option A: Lay off 1% of 10,000 employees, saving $250M/year. Option B: 15% across the board salary cuts, saving $250M/year. Option C: Lower executive and VP-level compensation packages (salary, options, stock, deferred pay, etc), saving $250M. Fairness in service of the company goals means that all viable options are given due consideration. It is relatively easy for a CEO to do lay offs, even if other options (lowering their own comp) has better effects.