Things are a bit different in Switzerland and in most of Europe. Employees have the choice on whether to accept the pay reduction or not. If they choose to participate in the pay cut, they then have another choice to make.
- Option A: Take a 10% pay cut (work 10 days and get paid for 9)
- Option B: Give up 2 "Work Life Vacation Days" per month. These vacation days are either days carried over from previous years or days purchased by the employee. Keep full salary.
The good news, at least so far, is that Switzerland is not included in the layoffs that are occurring in Japan, Scotland, and parts of the US.