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montoym @ Mar 7th 2008 1:26AM
Depends on your definition of fair I guess. I don't know about you but I know I didn't sign a contract at my job stating that I'd make a certain amount for "X" number of years. If my employer chooses to cut my pay, I can sell my skills on the job market and look for a new job if I don't like the pay(or anything else about the job for that matter).
If your skills are worth the pay you receive now, then you should be able to find a company willing to pay that, if not, maybe you were being overpaid for your skills. No company wants that. I don't really see how "fairness" makes an entry into this situation.
You know how the US killed it once thriving steel industry? Unions fighting for "fair" wages while their jobs went overseas to cheaper labor. Now most of the World gets their steel from Japan and the US steel industry is virtually non-existent.