The dilemma

You walk the factory floor on a Monday morning. It's October 1931. The machines are running, but the orders board is nearly empty. Eddie, your foreman for 22 years, stops you near the press line. 'Boss, the men are talking. Are the rumors true?' You can see the fear behind his steady eyes. He has four kids and a mortgage on a house he built with his own hands. The bank calls at noon: 'Make a decision or we make it for you.'

Your options

1. Keep everyone on for 3 months and bet that the economy turns before the money runs out
2. Cut to half staff for 8 months so at least some families have income through the winter
3. Cut wages across the board by 40% and keep everyone employed for 6 months, sharing the pain equally