HR And Marketing Practices In This Current Scenario Of Financial Meltdown

Dear All,
I have a query related to present scenario.
Due to this financial crunch, many companies ahve opted for pay cut, retrenchment and stopped hiring employees from outside. What other strategies companies are adopting to fight this crisis? Same with marketing<
Shipra

In Mkt the managers r adopting certain strategies like reducing the cost of production, prodct selling at reasonable with high service motive, efficient use of the resources, raw material supply and many others.
Where as HR, they are trying to make efficient use of Human Capital, retrenching, laying off, completing the project in deadline and increasing working hrs etc...
And they can reduce the salary of the top management and retain some of the emp by this money. and they can also reduce salaries of emp and retain the other emp. no need of retrechment.

thanx anil.
but i want to know why an employee should stay when his salary is cut and that part is given to some other. none of the employee would accept this. this policy is in a way encouraging quitting the job on part of
employees, thereby, increasing attrition rate.
if the company cut salary of all employees in certain department, then would not raise much of resentment and it would be justifiable on their part also.
long working hours - make some sense.

Dear Deep,
You mean to say, commencement of HR department?? Let me knw I have few materials on this subject.