Earlier quoted context omitted.
Well, looking at real-world examples, one large Basque cooperatives managed a downturn by agreeing for everyone to take a temporary pay-cut. > the Erreka Group averted layoffs by temporarily trimming wages by 5 percent. It continued to pay workers stuck at home in exchange for the promise that they would make up some of their hours when better days returned. https://web.archive.org/web/20210103102831/https://www.nyti…
You are talking about a 5% reduction. No one even talks about a "round of layoff for hard time" when the number is that low. What would it look like if the company had to downsize by ~30% ? Would people still be able to pay rent ?
Didn’t Covid just hit restaurants pretty hard. If they survived that I’m sure they’ve seen hard times