Pay cuts becoming common
At the height of the recession, many companies were offering their employees time off without pay in order to save money and not have to eliminate jobs. Those furloughs are now being replaced by pay cuts, and many fear those pay cuts could potentially lead the United States into a period of deflation. We discuss this with Wall Street and finance reporter for The New York Times, Louise Story.
Will you support The World with a monthly donation?
Every day, reporters and producers at The World are hard at work bringing you human-centered news from across the globe. But we can’t do it without you. We need your support to ensure we can continue this work for another year.
Make a gift today, and you’ll help us unlock a matching gift of $67,000!