Earn same as you and what have I to loose? See the big earner have more to worry about, lower end well answers on a stamp.
Big earner or small earner, everyone has mortgages and other monthly bills so we all have similar worries. If the company goes down none of us will find a new job in the current climate. And you certainly won't make 20k on the dole.
I find it utterly amazing people actually want the company to go bust rather than get a pay cut. Do you really want to loose your house, car etc?? Do you realize how much stress this will put on your personal life, your marriage etc?
The economy is in the sh*t and the company is in the sh*t. The priority is to keep the company going. If that takes a paycut now that's too bad, but why don't you make your union fight for an agreement that gives you a payrise of some sorts when things get better?
Here's another extract from the article referred to earlier:
In the employers position, rather than continue to argue this out I would respond by withdrawing the entire proposal and immediately announcing consultations for compulsory redundancies. You have utterly no idea how unpopular this is going to make you, when peoples livelihoods are on the line. The employer won't need to "slit your throats" - you will have colleagues who will happily sell you down the river for free.
Please remember, in redundancy, all an employer has to demonstrate is that they are cutting jobs and that they have used a "fair" selection criteria - they do not have to prove that they have a need to make redundancies.