The Economic Times

Laid-off employee gets a job offer with a huge pay cut doesnt know what to do, dilemma sparks a wave of advice

Laid-off Americans now wait 21 weeks for a new job. Many accept $17,000 salary cuts. Lost health insurance adds $6,720 yearly. Missing 401(k) matches cost $3,800 annually. Total compensation loss hits $40,000. A 20% pay cut suppresses lifetime earnings for years. This lowball trend stalls long-term career growth and erodes retirement security. Negotiating for remote flexibility or six-month pay reviews is essential to survive this volatile job market.