10 Benefits Your Employer Will Cut Next Year - Salary

Companies are slashing jobs, benefits, perks--even the holiday party

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Salary freezes. Workers accustomed to getting an annual cost-of-living raise may be out of luck next year. Four percent of companies have already frozen salaries and 12 percent more plan to, Watson Wyatt found. "As a cost-saving measure, it can have a fairly significant impact in terms of managing increases in cost," says Laura Sejen, global director of strategic rewards at Watson Wyatt. "Typically, it would be for 12 months, and then the organization would revisit the decision."

Layoffs


Hiring freezes
Higher health costs
Travel restrictions
Training cuts
Canceled parties
Reduced merit increases
Pension freezes
Cut 401(k) matches