McClatchy DC Logo

Recession calls up sacrifice | McClatchy Washington Bureau

×
    • Customer Service
    • Mobile & Apps
    • Contact Us
    • Newsletters
    • Subscriber Services

    • All White House
    • Russia
    • All Congress
    • Budget
    • All Justice
    • Supreme Court
    • DOJ
    • Criminal Justice
    • All Elections
    • Campaigns
    • Midterms
    • The Influencer Series
    • All Policy
    • National Security
    • Guantanamo
    • Environment
    • Climate
    • Energy
    • Water Rights
    • Guns
    • Poverty
    • Health Care
    • Immigration
    • Trade
    • Civil Rights
    • Agriculture
    • Technology
    • Cybersecurity
    • All Nation & World
    • National
    • Regional
    • The East
    • The West
    • The Midwest
    • The South
    • World
    • Diplomacy
    • Latin America
    • Investigations
  • Podcasts
    • All Opinion
    • Political Cartoons

  • Our Newsrooms

Economy

Recession calls up sacrifice

John Murawski - Raleigh News & Observer year into a global recession, businesses across the economic spectrum are trying to avoid layoffs -- or prevent more -- by down-shifting operations. They are reducing hours, freezing wages and suspending matching 401(k) programs.

    ORDER REPRINT →

January 06, 2009 07:05 AM

A year into a global recession, businesses across the economic spectrum are trying to avoid layoffs -- or prevent more -- by down-shifting operations. They are reducing hours, freezing wages and suspending matching 401(k) programs.

They're also asking employees to make other, seemingly smaller, sacrifices for the collective good: downsizing client dinners to business lunches, replacing catered meetings with brownbag teleconferences, cleaning offices less often.

Grateful to have a steady job, many employees are embracing conditions that they might have sneered at only a year ago.

"It's not that horrible," said Krystal Daniels, 24, a cashier at Rush Hour Karting in Garner, whose duties now include cleaning the public bathrooms at night. "It's better than shutting down."

SIGN UP

Employees, especially those who have survived a layoff or two, will surprise themselves by how much they are willing to put up with, said Ben Rosen, a management professor at UNC Chapel Hill's Kenan-Flagler Business School. "We're at such a difficult employment time that people don't have the options they had even three months ago, so the tolerance for sacrifice is far greater," Rosen said.

But such policies can hurt morale, Rosen said, particularly if managers and executives don't lead by example and give up a few perks.

Read the complete story at newsobserver.com

  Comments  

Videos

Lone Sen. Pat Roberts holds down the fort during government shutdown

President Trump makes surprise visit to troops in Iraq

View More Video

Trending Stories

Cell signal puts Cohen outside Prague around time of purported Russian meeting

December 27, 2018 10:36 AM

Ted Cruz’s anti-Obamacare crusade continues with few allies

December 24, 2018 10:33 AM

Hundreds of sex abuse allegations found in fundamental Baptist churches across U.S.

December 09, 2018 06:30 AM

Sources: Mueller has evidence Cohen was in Prague in 2016, confirming part of dossier

April 13, 2018 06:08 PM

California Republicans fear even bigger trouble ahead for their wounded party

December 27, 2018 09:37 AM

Read Next

Are Muslim-owned accounts being singled out by big banks ?
Video media Created with Sketch.

Policy

Are Muslim-owned accounts being singled out by big banks ?

By Kevin G. Hall and

Rob Wile

    ORDER REPRINT →

December 17, 2018 07:00 AM

Despite outcry several years ago, U.S. banks are back in the spotlight as more Muslim customers say they’ve had accounts frozen and/or closed with no explanation given. Is it discrimination or bank prudence?

KEEP READING

MORE ECONOMY

The lights are back on, but after $3.2B will Puerto Rico’s grid survive another storm?

National

The lights are back on, but after $3.2B will Puerto Rico’s grid survive another storm?

September 20, 2018 07:00 AM
Title-pawn shops ‘keep poor people poor.’ Who’s protecting Georgians from debt traps?

Investigations

Title-pawn shops ‘keep poor people poor.’ Who’s protecting Georgians from debt traps?

September 20, 2018 12:05 PM

Agriculture

Citrus disease could kill California industry if Congress slows research, growers warn

September 11, 2018 03:01 AM

Politics & Government

The GOP’s new attack: Democrats wants to ‘end’ Medicare

September 07, 2018 05:00 AM
KS congressman: Farmers are ‘such great patriots’ they’ll ride out Trump trade woes

Economy

KS congressman: Farmers are ‘such great patriots’ they’ll ride out Trump trade woes

August 30, 2018 02:17 PM
Democrats’ fall strategy: Stop talking Trump

Midterms

Democrats’ fall strategy: Stop talking Trump

August 24, 2018 05:00 AM
Take Us With You

Real-time updates and all local stories you want right in the palm of your hand.

Icon for mobile apps

McClatchy Washington Bureau App

View Newsletters

Subscriptions
  • Newsletters
Learn More
  • Customer Service
  • Securely Share News Tips
  • Contact Us
Advertising
  • Advertise With Us
Copyright
Privacy Policy
Terms of Service


Back to Story