Survey: Salary cuts on the rise - Kansas City Business Journal:

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According to a national studyh publishedby , businesses are choosinb to reduce employee salaries instead of initiates permanent staff cuts. After conducting a survegy of human resource executivesin May, the companyh reports that the number of businesses making permanengt layoffs dropped to 43 percent, down from 56 percenf reported in January. However, more than half of the respondents reportedf that their companies were initiating salary cuts or freezeas toreduce costs. In additionm to reducing employee many companies are enacting other costcutting measures, such as reducinb tuition reimbursement programs, cutting employeer hours and enacting temporary layoffs.
Survey findingsw indicated businesses that made staffd cuts were taking moreadditional cost-cutting measures than businessesd that have avoided layoffs. On businesses that initiated permanent staff cuts took an averags of sixadditional cost-cuttinv measures, while companies that have not made stafd cuts have averaged less than three cost-cutting The survey also found that fewer businesseds were taking cost-cutting measures in response to the economic In May, 86 perceng of survey participants said they were tryingt to cut costs, down from 92 percengt in January.