As an employer who wants to reduce the production cost during the economic recession, he or she could choose to (1) lay off some workers without changing wages or (2) keep all workers but cut wages for all. Which method would you choose and why?© BrainMass Inc. brainmass.com October 25, 2018, 8:05 am ad1c9bdddf
I would choose to keep all workers but cut wages for the following reasons:
1.By keeping all workers, you're keeping the knowledge that your employees have acquired over the years they have been working with the company
2.It sends a good message not only to the employees but also to the surrounding community that the company cares about its people and that the company management is ready to go a step further to ensure their employability
3.Keeping employees ensures that the company does not lose them to competitors. Employees know a ...
Sharp rise in oil prices, which sends the price of gasoline
You are a member of the Federal Reserve Board. "There is a sharp rise in oil prices, which sends the price of gasoline to $5 per gallon, increasing the inflation rate, and sending the economy into recession."Given the following scenario, what would be your recommendations to stabilize the economy? Explain. Describe what would be experienced within the economy as a result of applying your recommendation. What are the possible shortcomings of your recommendation?View Full Posting Details