In the west, it seems that a lot of companies are already cutting jobs because of the current financial crisis and because of this, a lot of people are now unemployed. Is this because most people in the west, especially those at the top management, don't want a pay cut? Here in the east, it's a bit different. People are willing to take pay cuts as long as they retain their jobs. Just take a look at a Japanese minister who is willing to take voluntary pay cut to atone for some mistakes. So if given the choice, which would you prefer - Job Cut or Pay Cut?