ResumeBuilder.com Survey Reveals 3 in 10 Employees Are Willing To Take Pay Cuts, Demotions To Survive Layoffs

ResumeBuilder.com, the premier resource for professional resume templates and career advice, has published a recent survey report examining how layoffs would impact workers and what compromises they would be willing to make to avoid losing their jobs. The survey collected responses from 1,250 workers in the United States.

According to the survey, 76 percent of workers would be willing to work weekends to avoid being laid off. Similarly, 58 percent would accept less desirable work, 48 percent would forgo taking time off in the foreseeable future, 43 percent would endure a longer commute, 38 percent would relocate, and 37 percent would switch to a part-time or freelance position. Additionally, 32 percent are willing to accept a demotion, and 31 percent would agree to a pay reduction.

“When facing a potential layoff, negotiating to retain your position, even if it involves a pay cut or longer hours, can provide valuable time to explore other options, such as seeking additional income or initiating a job search,” says Resume Builder’s Chief Career Advisor Stacie Haller. “Staying employed while you evaluate your next steps can offer stability and a clearer path forward.”

Workers express concerns about being laid off, including the ability to pay rent or mortgage, losing benefits, affording food, disappointing family, finding a new job, and the negative impact on their mental health. Among respondents, 19 percent report that they could sustain their current lifestyle for only one week or less if they were laid off. Twenty-two percent say they could manage for two to four weeks, 28 percent for one to three months, 15 percent for four to six months, 6 percent for seven to 12 months, and 10 percent for more than a year.

This survey, commissioned by ResumeBuilder.com and conducted online via Pollfish, was launched on June 26, 2024. Overall, 1,250 workers participated in the survey. To qualify, all participants had to be over 18 and currently employed for wages. To view the complete report, please visit: https://www.resumebuilder.com/3-in-10-employees-willing-to-take-pay-cuts-demotions-to-survive-layoffs/

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