Can These Jobs Be Saved?

YURIKO NAKAO / REUTERS

JOB SEARCH: Men look for work at a Tokyo job fair. Japanese firms have cut recruitment

If you had told hard-charging professionals in the City of London just a few months ago that they should take a 20% pay cut to work one day less per week, they would have likely mocked the idea as a French socialist plot to undermine the British economy. But when the U.K. arm of accounting firm KPMG recently asked its staff if they would be willing to reduce their workweek — and thereby save jobs — in the event that business dried up, an overwhelming 85% signed on. About 200 employees in the tax division have already shifted to a four-day...

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