Resolved Question

Why have companies stopped promotions and pay rises?

I know that it is down the credit crisis, but how does it actually help the company?
Surely people should only be promoted for the company benefit anyway.

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When the economy is in a slump, a company usually backs away from type of spending. Speculation from economists keep companies from making any moves because they could find themselves laying-off, downsizing, and even closing their doors. Promotions and pay "raises" come when production is high not low.

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