Nonsense its about people realising that cuts are going to have to be made and as long as the cuts are from top to bottom( e.g everyone loses 5% of their wages )then its fair. Its better to lose 5% of your wages than your job.In saying that it didnt do me any good we took a pay cut to save 100 extra people being made redundant, but 9 months later they closed my branch down.At the end of the day if a company wants to cut wages it can All it has to do is give you notice that its terminating your contract and offer you a new contract at the revised conditions.