The rolls of companies nipping at labor costs with measures less drastic than wholesale layoffs include Dell (extended unpaid holiday), Cisco (four-day year-end shutdown), Motorola (salary cuts), Nevada casinos (four-day workweek), Honda (voluntary unpaid vacation time) and The Seattle Times (plans to save $1 million with a week of unpaid furlough for 500 workers). There are also many midsize and small companies trying such tactics.

Three points:
1. Hopefully this non-structural cost cutting is intended to be temporary.
2. If its not, this might be how we get to a 30 hour work week.
3. You can expect companies doing layoffs to continue to lobby Congress for H1B under the pretext that they cannot find people to fill jobs.

naked capitalism: Wage Deflation Underway