recession and lay offs

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Friends, I am new to myLot. But, I have an important topic to dicuss which is related to everyone in the present times. Everone knows how recession has creeped in to our lives. My company because of this recession effect had laid off half of our company employees and have been forcing to take a paycut of 25% for the remaining half for an indefinite period. It seems that there are so many companies out there doing simlar things which helps them to survive this recession effect. I would like to know from you guys whether there are any alternative measures other than lay offs and paycuts to survive the recession? Thanks in advance.