Well, a week ago I had a slightly different answer to this thread, but we're still OK.

My company, last Friday, eliminated 8 jobs (we employ about 300 or so total). All these jobs (save 1) were people at the age they could retire, but they had been with our company for 30+ years, a lot of them, and it really was not a good way to go. No compensation, no nothing, just gone. It was also announced there would be an across the board 10% decrease in pay.

I work for a plastics company in Maryland; we had to take drastic measures to stay afloat for the long run and we're not through with them. I am in what is considered middle management; the 10% will not break me. It had to be done.

My husband is in environmental programs for the State; he was told he had to take 5 furlough days in the year. That won't break us, either. Personally, I would have preferred the furloughs! That's our story.