I think all companies should focus on cutting the frills & not the basics. Paycuts are acceptable if they are compensating that for not doing layoffs.
Has or is anyone giving it a thought what all these 1000s & 1000s of layoffs will do to the crime scene in the city & country?? More effectively for people who cant handle the fact that they dont have financial freedom anymore & how they are going to overcome their regular lifestyle which is full of expense, credit cards, debts & more...
Let there be paycuts & that too above the levels of certain grades where there are more frills attached. Cut off - Perks, Incentives, Usage of unnecessary leisure & status symbol items & expenditure.
Layoffs is like running away from a problem. By doing that we may just be feuling the formation & foundation of a Grim Society full of cheat, vengence & crime. And it'll be too late to realise what we have done to the Society by large for bringing back "A" Company back to the Pink of Health!!!!!!