My working career is currently over the 11 year mark.  I have seen some small boom and busts, but definitely have not experienced a downturn like this one is (and will continue to be).  My brief experience with a small recession was the high tech down turn of 2001.  Some smaller companies closed down, and some larger companies did lay-offs.  The company many of my friends worked at did a small amount of lay-offs, and then went to a every second Friday off with a 10 percent pay cut.  I do know that the salary is not the only thing that gets paid for each employee–benefits and insurance are on top of that.  But doesn’t this seem like a better way to save money, and keep your talent ready for when the downturn is over?  Loyal employees who appreciate that they were kept around, and know how the machines work?   A 10% paycut doesn’t seem like such a bad thing, especially if deflation occurs.

Loring Wirbel takes a look at how companies come out of this recession in his FPGA guru blog here: Pistons seizing