Months after the coronavirus pandemic first forced shutterings of retail and restaurants, cancellations of concerts and conferences, and the total nosedive of the economy, the financial hits keep coming. Across the country and across industries, workers are facing unemployment, furloughs, or reduced salaries. It’s a second Great Depression that’s sparing few below the billionaire threshold.
As an unavoidable measure, there are steps conscientious companies can take to mitigate the personal destitution of their employees if cuts have to be made. Namely, the people at the top can forgo a great portion of their salaries. A higher percentage of a bigger number will be more overall money and should keep more precariously positioned members of the labor force from bearing the brunt of any lost revenue.