1.   Those who kept their jobs had to take large wage cuts.

2.   The government was forced to row back on an austerity plan that would have involved wage cuts.

3.   There was a widespread acceptance of the Keynesian view that far less painful alternatives to money wage cuts were available in the form of demand management policies.

4.   Why do workers prefer to take real wage cuts in the form of price rises?

5.   Real wage cuts, by reducing aggregate demand, raise the level of Keynesian unemployment.

6.   But can they achieve this real wage cut?

7.   The unions demanded the cancellation of the dismissal decision on condition that the workers would accept a proportionate wage cut.

8.   Bischoff said that in discussions with labor the company is not necessarily seeking direct wage cuts.

9.   Both the IAM and CAW earlier this month rejected the proposed wage cut.