Is it more beneficial to a company to work/pay people more, like 60 hrs, or work them less and pay them less?

Answer 1

depends on what type of work. if you've got deadlines and it will impact revenue and future revenue if you don't get it out on time, then you weigh the cost vs the impact of missing the deadline.
In general when its research & development, senior management they will be more willing to give more and expect more. When its helpful work but not directly impacting revenue they may not mind the work less pay less.

Answer 2

I would think to work them less, and pay less, becuase overtime is a lot more to pay....If a person is working part time, they really don't get full benefits, which is another way for the company to save money...