[mikebos]

Forget about the company, this boils down to choices. Can you get another job relatively easy within a month, or for as long as you can finance your unemployment?

If the answer is no, you need the job and most likely should take the pay cut.

Whatever your choice will be, it's time to start looking for a new job. The behavior you describe in your employer sounds to me like they don't put value in employees.

[OJFord]

> Whatever your choice will be, it's time to start looking for a new job. The behavior you describe in your employer sounds to me like they don't put value in employees.

Well even that aside, when your employer has known money issues, especially to the extent that they're struggling to pay staff, ... Hopefully OP won't need it, but I wouldn't wait for the company to go belly up to start looking personally.

[aldarisbm]

It doesnt seem like they are struggling to pay staff, at least in context of what he said.

What would be your alternative. I'm guessing they are taking measures to not lay off more than 10% of people. Is there a win/win scenario here?

I'm more curious than anything to be honest.

[OJFord]

You think they're cutting pay because despite having no problem affording it, they're.. what, concerned they're offering above market rate?

I'm not claiming to have a good alternative for a company in trouble, I'm just saying if my employer is the company showing signs of trouble like that I'm going to start looking around.

[folivore]

Thank you. I'm not bothered about the company, though I do like the employees and the work. I'm trying to find the best way forward mid-long term for me. The company won't think twice about letting me go. I have options for jobs that I am reasonably confident about. They're becoming more attractive over time.

[Atlas22]

I would blow off signing it for as long as possible while interviewing with other companies to see what you can find then make your choice. The only scenarios I would sign that is if there were no better options compared to the 10% cut, or i had absolute faith in the companies management in terms of ability and trust (extremely rare, almost always a mistake)