The government slashed salaries, then severely restricted bank withdrawals.
Latvia's government sacked 30% of public sector staff and slashed salaries by 40%.
Earlier this month, the regulator for Fannie Mae and Freddie Mac slashed salaries for the heads of the two agencies and blocked most executives' bonuses.
Even Disney, which long seemed immune to the downturn, said earlier this year that it, too, would institute severe cost-cutting measures in its animation division, from slashed salaries to lost jobs.
N.B.A. ON TWITTER As the N.B.A. labor negotiations continue, the league's commissioner, David Stern, and the deputy commissioner, Adam Silver, went on Twitter on Sunday night and discussed everything from contraction (which has been discussed) to sending players to the Development League at slashed salaries (which is not in the league's proposal).
He does not add that, in a misguided gesture, Mr García slashed salaries for top public-sector jobs.Similarly, money for public investment in roads or to help farmers lies unspent at all levels of government, partly because of fears of corruption.
And even if the thousands of cuts do materialize, the troika's goal of renewing Greece's public sector with new employees may prove elusive, since austerity policies have slashed salaries so much that some see little incentive to enter government.
Grinstein cut the employee count from 70,600 to 47,000 and slashed salaries.
In 2001, Argentina suffered a disastrous economic meltdown, resulting in the collapse of the middle class, slashed salaries, frozen bank accounts, out-of-control inflation and record unemployment.
