My employer recently laid off staff due to economic conditions; on the order of 10%, I think. I made the cut and we -- the survivors -- have been promised that there won't be another round of lay offs for at least 6 months. That said, the economic outlook is still rather bleak and, to that end, I have been given the option to go part-time, for three-to-four months. I've been told that, if I choose to remain full time, that won't be held against me.
I've no experience of situations like these, but my gut feeling is that this doesn't look good.
If I remain FT, that negatively affects the company's short-term viability. This increases the risk of job loss (for everyone), but I don't have any information to quantify this likelihood.
I also don't believe that "promises" will be kept -- in both the frequency of lay off rounds, nor FT being held against me -- if things deteriorate. That's not to say that I don't trust my employer; it's just that breaking promises may become a financial necessity for them to stay afloat.
If I switch to PT, that buys the company some time, but at my expense (in terms of sacrificed salary). The apportions they've suggested range from completely unviable, for me, to just-about-liveable; so let's assume the best I can do is the top end of their PT proposal.
But who's to say things will improve despite this? If I end up getting laid off on a PT salary, then I think I'd get pro rata severance; not that that would amount to much, either way. Other things (e.g., pension contributions) will also be affected by the PT salary. The extra time would be nice, but personally, there's not a lot I can do with it.
I don't want my employer to go out of business, or lay off more staff -- my colleagues and potentially myself -- but would it be selfish of me to say that I don't see it as my responsibility to take the short-term hit? Of course, in doing so, I may be setting myself up for a long-term hit: How big of a red flag is their proposal in terms of signalling their current viability?
For argument's sake, the consequences of going PT are not fully clear to me, either. What are other possible "side-effects" of being PT? (I'd imagine geography matters for this question: I'm employed in the UK.)