Loadshifta, I agree that a paycut would have been the thin end of the wedge. The reality is that this is a pay deferral, with no material effect on pensions, solely in order to make the numbers look good in the city over the next quarter. IMHO, as one of the 45 whose jobs have been saved by this move, it is a win-win situation except for the unfortunate 32 who have received their 'Dear John' letters
