Well, turnover in CCY is reportedly sky high right now. Cutting staff by 20 percent while leaving salaries near constant means the people left do 20 percent more work for the same pay. To be honest, if too many folks leave from HQ, turning US around will be impossible. Senior executives are a different story ... I'm assuming they will take some sort of pay cut. It's the day-to-day folks in AP, HR, Legal, Finance, etc. that are leaving at, what I've been told, is an alarming rate.
At the company I work for, we were told today during a management meeting that the job market has tightened up all of a sudden again, and we need to focus on retaining people. Many departments are once again having trouble filling positions with experienced folks. The non-union job market is very different from the seniority-based, union model, and CCY compensation needs to account for that. But, as I said, *senior* executives need to understand they themselves need to set an example.
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