“Shakespeare & Company is laying off seven employees, reducing two others to part-time, and instituting a 10 percent pay cut for the remaining 41 year-round staff as part of a restructuring plan to save $900,000. … In addition to layoffs and payroll reductions, the three founders of the 32-year old theater group will each lose eight weeks of pay in order to prevent further layoffs and reductions, according to artistic director Tina Packer.”