I work in a big building that houses two divisions of my company (2 out of more than 100 groups). My division is surviving but we are getting no raise. However, the other division just laid off 10% (20 people) of the work force and everyone including exempt employees will take a one week unpaid vacation per month.

Most people are very unhappy. But some people like it because they need a break. I am seeing more and more companies doing this.