Layoffs or Days Off?

There's a lot of concern over whether Kansas state workers will get a paycheck this week. At the same time, California put state workers on furloughs and now may resort to layoffs.

I'm wondering, if given the options, what you would do. Would you accept a shortened work or pay cut if it meant everyone would keep their job? Or would you rather see your company (be it public or private) lay people off so that those remaining could keep their full salary?

Maybe it's a question that's easier if you have a lot of seniority and aren't worried you'd be among those let go, but I'm interested to hear what people have to say!

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