Survey: Salary cuts on the rise - The Business Journal of Milwaukee:

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According to a nationao study publishedby , businesses are choosing to reducw employee salaries instead of initiate permanent stafvf cuts. After conducting a survey of humab resource executivesin May, the company reports that the number of businesses making permanenty layoffs dropped to 43 percent, down from 56 percenr reported in January. However, more than half of the respondente reported that their companies were initiating salary cuts or freezes toreduce costs. In additioj to reducing employee salaries, many companies are enactinf other costcutting measures, such as reducinf tuition reimbursement programs, cutting employee hours and enactinvg temporary layoffs.
Survey findings indicated businesses that made staffd cuts were taking moreadditional cost-cutting measurez than businesses that have avoided On average, businesses that initiated permanent staft cuts took an average of six additional cost-cuttingf measures, while companies that have not made stafff cuts have averaged less than threwe cost-cutting measures. The survey also found that fewerf businesses weretaking cost-cutting measures in response to the economixc downturn.
In May, 86 percent of survey participants said they were tryingg tocut costs, down from 92 percent in