Here's an example of how SAS copes:
Communicating with your staff. How radical.
The Research Triangle-based company has been able to avoid layoffs recently by instituting hiring freezes in all areas except R&D and sales, which continue to grow. And by cutting back on travel and expenses, the company relies more on conference calls and video conferencing to get the job done. CEO Jim Goodnight has engaged employee support by communicating early and often with staff to prepare them for any changes.
Here's another example:
While Mercedes faced the same challenges as the Big Three, the company hunkered down and cut costs by eliminating non-essential travel, reducing temporary staff and placing controls on overtime. When management discovered that further cost reductions were unavoidable, the CEO and executive team (28 people total) accepted pay cuts. The tough choices paid off, resulting in a 10% total reduction of labor costs from mid-2009 to year end.
Executives taking pay cuts. Wow.
Mind you, some people in the comments section take issue with some of the listings. However, others are mentioned there as doing a really good job of not laying people off. One of them is Interstate Batteries (who have a store just around the corner of the Center. That makes me want to patronize them even more.)