A growing number of employers, hoping to avoid or limit layoffs, are introducing four-day workweeks, unpaid vacations and voluntary or enforced furloughs, along with wage freezes, pension cuts and flexible work schedules. These employers are still cutting labor costs, but hanging onto the labor.

And in some cases, workers are even buying in. Witness the unusual suggestion made in early December by the chairman of the faculty senate at Brandeis University, who proposed that the school’s 300 professors and instructors give up 1 percent of their pay.

How about that, huh? You have professors willingly giving up 1% of their pay so that their colleagues at the university will not be fired. That’s pretty impressive if you ask me. The article goes on to talk about how about 30% of the professors have opted into this program and it will generate some $100,000 in savings – enough to save the jobs of “several” university employees.

What is interesting here is that unlike in previous economic downturns and recessions, there are some companies that do not want to cut their existing staff because they know that cutting staff will lose talent. You have to believe that at this point in history, if companies were employing people who were inefficient at their jobs then they would have already been fired. So what’s an employer to do when they need to save money but don’t want to fire anyone?

Send their employees home.

This puts the employee in an awkward predicament. Do you stay with a job that is finding ways to literally nickel and dime you out of a few percentage points on your annual salary or do you look for greener pastures? My stance would be to do both. If your job is sending you home once a week and forcing you in to extended, unpaid furloughs, then you should use that time to find a new place to work, if possible. Look, your job is already telling you that they value you as an employee and that they don’t want to lose you by virtue of your continued employment. If, however, you feel that the reduction in pay is not going to work for your financial needs, then you may as well use the new free time to play the field a bit.

What does this mean for the automakers? Less inventory moving off of lots and less sales of new and used cars – both of which mean less revenue. As a consumer who is off-again, on-again in the market for a new or newly used car I can tell you that it’s just not worth buying a new car right now (so long as you have other means of conveyance). I spent last month looking around used car dealer lots and I didn’t find one deal. Not ONE decent deal! Sure, I understand that the people who work at these places need to pay the bills and eat, but you would think that in a tough economic time when an entire industry to collapsing there would be some ingenuity at the local or regional levels to cut prices and sell product.

I guess not.

In fact, the price disparities between the new and used cars weren’t even that far apart. In other words, I might as well have purchased a brand new car because I’d only be spending a few thousand more for it and I’d be getting a brand new machine with top of the line features. Oh, that reminds me – the feature packages are too expensive on new cars. Consumers know that you can get a great sound system installed in a car for a few hundred bucks (I said great sound system – not the type of system where you can take your car to a show a win awards). So when you see automakers adding $800 – $1,200 for such an upgrade, why would you purchase that upgrade? Add up a bunch of those large-scale “nickel and dime” pieces and you find yourself wondering why you’d buy a car from that dealer in the first place.

Now add all of this to the fact that American automakers have a reputation for shoddy workmanship while comparatively priced foreign cars have a reputation for lasting forever and American consumers have an easy choice to make. In this case, consumers aren’t even making a proactive choice to buy one car or another – they’re just not going out to purchase new vehicles period. But when they do one has to wonder how long they will continue to buy an overpriced, inferior, and out of date product.