31–40 of 67 posts
In the US they don't do this. The thinking is someone getting a lower salary and the same job will not be very motivated. It's better to just get them go and keep other employees at their same level or higher.
I've also seen benefit cut like getting rid of 401k contributions
Are you in a position where, if you leave or are let go, the company would be hurt? (And the management is competent to know it?) Then hold your ground. Point out what will very quickly happen if you were to leave or be fired.
Otherwise, just ignore the request as long as possible and change jobs. If it's customary to give notice before you leave, make it abundantly clear that you're only staying through your notice period at full pay.
(Also, FWIW: In the US and many other places in the world, a lot of high-tech companies are run by people who have no clue how to run a company. Some people come from money and are just trying to follow in their parents' footsteps. Other people are just gambling and keeping up appearances. If you work for someone like that, now is the time to change jobs.)
> They chose to cut salaries rather than cut the office rent and catered lunch/snack expenses Real-estate is surprisingly hard to get rid of. Depending on the size they might be stuck with a multi-year lease. Cutting snacks and lunch doesn't substantially change the equation. That said, I'd start looking for another job. Layoffs AND a paycut for those that remain doesn't fit well. Might as well layoff more people and…
Real estate is also really cheap in comparison to actually paying people, especially in some areas with long-term deals.
I've only been in situations where pay-cuts were offered a couple of times. In both cases equity was offered. In the more recent case, equity was offered with instant vesting, and there was a commitment to repay the deducted pay in full after the situation (short-term cache flow issues due to delays with fundraising) had ended. The 2nd case was obviously a better deal, the only risk to me was that the fundraising wou…
I was in a similar situation in April 2020. I think we had to sign a 20% pay cut. COVID having just started, I signed. After 6 months, they reverted the salary, but I left shortly after. I still regret signing the pay cut
If you want to keep the job, sign it. If you don't, don't.
"We're hoping that everyone pulls together" is just a polite way of saying "My way or the highway". At-will employment works the same everywhere.
Except the CEO, they keep the bonus lmao
Forget about the company, this boils down to choices. Can you get another job relatively easy within a month, or for as long as you can finance your unemployment? If the answer is no, you need the job and most likely should take the pay cut. Whatever your choice will be, it's time to start looking for a new job. The behavior you describe in your employer sounds to me like they don't put value in employees.
Thank you. I'm not bothered about the company, though I do like the employees and the work. I'm trying to find the best way forward mid-long term for me. The company won't think twice about letting me go. I have options for jobs that I am reasonably confident about. They're becoming more attractive over time.
I think all we can do is ask questions and help you reason about this. Whatever decision you make, at least it will be informed and not rushed.