The organization I work for is funded largely by state tax dollars. Obviously, the Covid situation will result in fewer tax dollars going to the states. Leadership at my organization has decided, rather than layoffs, to reduce everyone's salary, and reduce the amount they contribute to retirement.
The salary adjustment is on a sliding scale that ranges from a 0.5% cut to an 8.0% cut, with lower salaried people receiving a 0.5% cut, and the highest salaried people receiving an 8% cut. My salary is in the range where there is a 1.0% cut, which amounts to about $52 per month. If you want to do the math, you can now figure out my salary. 
The amount that is contributed to our retirement has been cut in half, regardless of salary.
It's been clear since March that something would have to happen, and I prefer this method over layoffs. Everybody bleeds a little, rather than a few on the chopping block.
The changes go in effect September 1. Our fiscal year begins October 1, and that is historically when we are given our raises. I can't imagine anyone will be getting a raise this year, or that will wipe out the gains of this negative adjustment.
All in all, I'm happy to still have a job.
Salary Adjustment
August 28th, 2020 at 12:54 am
August 28th, 2020 at 07:48 pm 1598644098
August 30th, 2020 at 12:43 am 1598748185
August 30th, 2020 at 01:36 pm 1598794592
August 31st, 2020 at 07:42 pm 1598902927