Word: cuttingly
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Dates: during 2000-2009
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...told hard-charging professionals in the City of London just a few months ago that they should take a 20% pay cut to work one day less per week, they would have likely mocked the idea as a French socialist plot to undermine the British economy. But when the U.K. arm of accounting firm KPMG recently asked its staff if they would be willing to reduce their workweek - and thereby save jobs - in the event that business dried up, an overwhelming 85% signed on. About 200 employees in the tax division have already shifted to a four-day week, says...
...this gut-wrenching downturn, the Germans and the Japanese are no longer alone. "It's happening a lot," says Raymond Torres, director of the ILO's International Institute for Labor Studies. "People are trading off their jobs for wage cuts and other measures." There's even some anecdotal evidence that it's starting to happen in the U.S., where companies have traditionally not hesitated to lay off staff in a downturn; last month the New York Times announced a 5% pay cut for some of its staff in return for extra vacation days...
...Unemployment Olympians are laughing, but they are not okay. They have moved in with friends, downsized apartments, and asked their parents for assistance. Three people say that they've cut back on groceries so significantly that they've actually lost weight. Some are thinking about leaving the city altogether. They're tired and frustrated and bored, but on this last afternoon in March they are making light of their situation. Lauren Diamond, a victim of advertising agency layoffs shrugs as she waits in line for the games, "I'm seriously sad," she says. "But at least I'm not from...
...passers by with the bold words "STABILITY, GROWTH, JOBS". But for anyone looking for a way out of the blight, it's another disappointment. The local footbridge to the center will be shut during the meeting of the world's most powerful. Once again, Canning Town will find itself cut off from what lies beyond...
...issue of imbalances was not raised directly by either man, according to a senior U.S. Administration official, the joint statement released by the two nations said both countries want to deal with the underlying causes. "[Obama] underscored that once recovery is firmly established, the United States will act to cut the U.S. fiscal deficit in half and bring the deficit down to a level that is sustainable," the statement reads. "President Hu emphasized China's commitment to strengthen and improve macroeconomic control and expand domestic demand, particularly consumer demand, to ensure sustainable growth and ensure steady and relatively fast economic...