Workers would rather take a pay cut then see colleagues fired

The credit crunch is uniting workers as a survey carried out by recruitment website fish4jobs revealed almost half of us expect their salary to be cut or frozen this year, but 73% of us are happy to take a pay cut rather than see colleagues be made redundant.

The survey comes after a flood of pay cuts, with everyone from Barack Obama to the BBC announcing their salary funds will be frozen for the foreseeable future. 

Everyone was united on the solution for redundancies – cut the bosses’ pay! 79% thought the bosses’ pay or bonuses should be cut to halt job losses.

Other money-saving suggestions included bringing in performance-related pay schemes, introducing green initiatives around the office and cutting back on staff benefits like free tea and coffee.