Time to change the Green Book

摘要

One of the reasons why private sector jobs during this latest recession did not plummet at the rate they had done in the 1980s and early 1990s was because many employers and their staff reduced payroll costs to avoid lay-offs.Apart from well-known examples of car manufac-turers closing plants tor three months, there were numerous cases of workforces taking reduced hours and benefits to cut their costs, but save their jobs.