the world is still entrenched in the supply-and-demand mindset. if demand is reduced then supply should be reduced. which can imply layoffs.
the world is still entrenched in the supply-and-demand mindset. if demand is reduced then supply should be reduced. which can imply layoffs.
I have heard of companies offering “less pay” quite often. Usually smaller companies threatened with insolvency, usually trying to stave off absolute failure or perhaps to keep more people employed longer. That said, the example almost makes the case that wages are sticky since it happens uncommonly and not-at-all smoothly.
Yeah it’s actually really uncommon, because reducing someone’s pay but expecting the same level of work/output will automatically lead to the best workers moving to other companies.