Oh *sweet*! Now they think that rather than getting rid of people, they 
might just give us all a 10% pay cut.

Apparently, if we all unanimously agree to take a 10% pay cut, that will 
take us *half* way to the break-even point. That plus their income 
_assumptions_ (i.e., they're assuming that income is going to increase 
soon) takes us to break-even. And they say (but it won't be in the 
written document we'll all have to sign) that once we become profitable 
again, they'll reverse the 10% cut.

So we have a choice: Either we all agree to accept a 10% pay cut 
indefinitely, or some of us get the boot. And we have until close of 
business *today* to decide.

Note again, we have to accept, in writing, a 10% pay cut. But they will 
not put in writing that it's temporary. Note also that this cut isn't 
even big enough to take us anywhere near break-even unless their income 
assumptions turn out to be right. (In other words, they're expecting us 
to get lots more work real soon now.)

Let me tell you, there wasn't much said in the meeting, but there were 
some pretty unhappy boys and girls in there. Last month some accountant 
came over from the USA and said everything is more or less OK. It's not 
great, but it should get better shortly. This week, suddenly they're 
talking about we must make savings, and in a few hours you need to 
decide how we're going to do that. It's like... WTF changed since last 
month?

Lots of unspoken questions in that room. I tell you, the atmosphere was 
practically corrosive. Being in financial trouble is one thing. Being 
left feeling like you weren't told the truth is another...

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