Wage cuts become a tool for some companies to avoid layoffs

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The ranks of those who forgo layoffs and layoffs include large employers like HCA Healthcare, the hospital chain, and Aon, a global professional services company based in London and headquartered in Chicago . Chemours, a specialty chemicals manufacturer in Wilmington, Del., Has cut executive pay and preserved jobs by 30 percent. Other companies that have successfully avoided layoffs include small businesses like KVH, a manufacturer of mobile connectivity and navigation systems that employs 600 people worldwide and is based in Middletown, R.I.

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