I need to do one or the other. Business is down (like you didn't know that!) and something must be done. So cuts are in order but I was wondering if folks thought that paycuts were too demoralizing to those left behind? Is the cleanliness of a staff reduction better for all?
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I think it depends on your staff and how bonded they are. If it is a small group and they are all "outside the office friends" then definitely paycuts. If they could care less about one another, then do the layoffs.