Pay freeze ! Ha - I'd settle for that
I have to settlte for a "temporary" 20% pay cut - as does the whole company - we hope one day that we may get it back, but I'm doubtful. For senior management this 20% is in addition to the 10% that they took at the start of the year. Yes I am in the UK as well ....
Worse still, it's not because we don't have any customers or pipeline. It's all down to cash flow. None of this year's orders (and much of last year's Q4 orders) will get paid until after April - that's how businesses work these days - 60 to 90 days staged payment. So even though the revenue stream is good enough to keep going for more than 6 months, the cash is not there.
In the meantime we still have to pay employess and their expenses that account for > 80% of overall company costs. No bank will provide us with a commercial loans at the moment - not even at the usual punitive rates - we are considered not to be big enough.
To make the company a more attractive proposition to sell, the investors wanted to fire employees to reduce costs, but they just can't get it into their thick heads that a company neds a certain number of employees to function and without employees there is no company to sell. Hence the all round cuts to reduce costs.
So it may be a case of vote with your feet, but in the meantime we are grinning and bearing it because we'd actually like to keep the jobs we have and continue to do things we're doing.