Matthew Boesler and Reade Pickert

Companies across the U.S. are cutting salaries as they fight to survive the coronavirus, upending a key assumption in modern economics and raising another hurdle to rapid recovery.

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The pandemic has triggered unemployment on a scale not seen since the Great Depression. Pay cuts for Americans who’ve managed to hold onto their jobs may hobble the return to normal. People will have to use a bigger chunk of their income for fixed obligations such as housing and other debts — leaving less for the kind of spending that can help spark the economy back into life.

https://www.msn.com/en-us/money/careersandeducation/salaries-get-chopped-for-many-americans-who-manage-to-keep-jobs/ar-BB14EOHQ?page=2