The teachers have accepted longer workdays in lieu of a pay cut.
Usage notes: often used in newspaper articles announcing someone's death:
In lieu of flowers, please send donations to the Cancer Society.
in lieu of (something)
Instead of something; in place of something. In lieu of flowers, please send donations to the scholarship fund.
in lieu of something
Fig. in place of something; instead of something. (The word lieu occurs only in this phrase.) They gave me roast beef in lieu of ham.We gave money to charity in lieu of sending flowers to the funeral.