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Negotiate. When you receive news about a salary cut, you may also be able to talk to your employer to negotiate an exchange of benefits. They might be willing to offer you more non-monetary benefits such as the ability to work from home, a 4-day work week or even fewer work hours.

Unless you work under a collective bargaining agreement or an employment contract, your employer is generally allowed to cut your hours and pay.

Working for Less: When It's OK to Take a Pay Cut You just need work. If you're out of work and you need money to pay the bills, it's better to take a lower-paying job than to have no job at all. ... You move into a new industry. ... You change careers. ... The new job makes you happy. ... To keep your current job. ... Moving on.

Here are some common reasons you might opt to reduce employee compensation. To protect your business: If your company is facing economic hardships or other financial struggles, you may need to reduce operating expenses and protect your cash flow to stay afloat.

A salary cut is what happens when your employer reduces your pay. The amount of a salary cut can vary depending on your job position and the situation responsible for the pay decrease. Salary cuts can mean a reduction in pay without a change in your work responsibilities.

You can choose to accept or decline the request, but your decision may have consequences. Here's a look at the times when you should say ?no? to a pay cut and the rare times when you should say ?yes.?

A pay cut typically results in less pay but might include changes to benefits as well. Benefits may stop, such as employer contributions to a retirement fund. Fewer commissions or bonuses might impact take-home pay along with reduced hours or furloughs.

It may be worth a cut in pay to gain a new set of skills and experiences that will broaden your skill set, says Trellis Usher, founder of HR company T.R. Ellis Group. It's unreasonable to expect to receive top dollar when you move into a role where you have little to no experience.

Dear Name of Employee, Due to reasons, the company has decided to eliminate certain positions or departments. We have done all we can for the past time period to try and address the main causes but to no avail. We regret to inform you that your role in the company is one of those to be reduced.

Here are some ideas to help you deal with a salary cut: Talk to your supervisor. It's a good idea to have an honest conversation with your employer when you find out that you are receiving a salary cut.Negotiate.Assess your options.Maintain excellence.Look for financial assistance.Budget.