NEW YORK (CNNMoney.com) -- An annual 3% raise used to be considered stingy. Now, some employees will be happy if their salary doesn't go down in the coming year.
It's not just Citigroup executives that are seeing their compensation cut. More companies are considering salary reductions as a way of cutting costs amid an ongoing recession.
"Companies are looking for ways to keep their business intact without hurting customer service or quality," according to John Dooney, manager of employment and HR strategy for The Society for Human Resource Management (SHRM). "This is a potential option."
Read full article: http://money.cnn.com/2009/01/07/news/economy/salary_cuts/index.htm?postversion=2009010811
No comments:
Post a Comment