This CEO cut employee salaries by 20% and implemented a 4-day workweek to avoid layoffs and save the company — here's what happened

See if you can follow this workplace math: 40 hours - 8 hours - 20% pay = 1.

Translation: For a Canadian purchasing software company, reducing an employee’s 40-hour work week by 8 hours, with a 20% pay cut, equaled one job saved.

That clever equation added up to another significant number: zero layoffs. READ MORE