We have seen lots of American jobs disappear in our city, our group was decimated to 2, while Most senior Directors and HR representatives encourage legal immigration wishing to see the economy grow with more cheap labor, it is their rational that they need more openings for foreigners and less for Americans altogether, by saying that this bank don't have enough people available and ready to work is a complete lie.they just don't want to pay a decent living wage and the savings going in management pockets
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The reality is this is a huge flashing sign that your employer doesn't value you. Employers like this tend to think that employees are interchangeable: If your workers aren't cutting it, you can just go out and hire some new ones. Sometimes this is absolutely the case, other times it's a disaster. But the message is the same -- we don't value you.
Now, this is vastly different from a situation where everyone (including leadership) is getting a pay cut in order to keep the business afloat. The message there is that we're all in this together and we feel it's better to cut everyone's pay than to start laying people off. (If leadership doesn't also take the pay cut, the message remains "we don't value you.")
But, generally, once your boss has made the decision to cut your salary -- and only your salary -- you should get out at the first reasonable opportunity. Because a boss that cares about you knows that this type of blow is devastating, if not financially, then certainly emotionally. So, chances are that even if you have to take a new job at an identical pay rate to the cut one, you'll be better off at a company that wants you enough to give you a raise.