ORbiker
Eugene, Oregon
Senior Member
Joined: 02/17/2005
View Profile
 Offline
|
Country Coach in Junction City will cut all employees' wages by 5 percent and President and CEO Jay Howard's wages by 25 percent, said Matt Howard, the company's director of marketing and public relations.
The company employs 1,100 people, according to a recent press release.
Who or what's next???
I (2-10-05) bought a 2002 F350 CC SWD PSD and a new 2003 Citation 10'8. Rancho 9000X & Toyo M55's.I have been a tent camper all my life. I wanted more comfort while doing my Willamette Backcountry Ski Patrol & Crater Lake Ski Patrol duties.11
|
fulltimin
Home is where we Park It.
Senior Member
Joined: 12/14/2003
View Profile
|
I'm impressed. Usually, the CEO takes a pay raise while the employees take the pay cut........
Dave
If momma ain't happy, ain't nobody happy....
Shower head mod to conserve water.
|
Bumpyroad
Virginia
Senior Member
Joined: 12/01/2005
View Profile
Offline
|
hey if they have to do it to survive, more power to them. companies are dropping like flies now.
bumpy
|
HDrider44
Merlin, Oregon,USA
Senior Member
Joined: 11/14/2004
View Profile
|
I aggree that they should do what it takes to survive. And as long as all the employees understand that they at least still have a job, maybe and just maybe cusomer service and quality won't take a hit.
We are having a anniversary sale this weekend at my store and 2 of my reps just took a pay cut and now can't make it to the event to help support us. I buy over $800K worth of product a year from them. So paycuts can and do have ripple effect's.
DaveK
2007 Tiffin Phaeton 40QSH
2007 Lincoln MKX toad
05 F350 DRW King Ranch
02 Harley Roadking and Buschtec trailer
2 seat long Travel Sand rail with 450hp turbo subi engine
|
thunderstruckhd
Ft.lauderdale,Florida
Senior Member
Joined: 04/24/2007
View Profile
Offline
|
ORbiker wrote:Country Coach in Junction City will cut all employees' wages by 5 percent and President and CEO Jay Howard's wages by 25 percent, said Matt Howard, the company's director of marketing and public relations.
The company employs 1,100 people, according to a recent press release.
Who or what's next???
This problem is not only tied to the RV industry. I have a friend who works for a major credit card company, and she says all her major accts. are down 15 to 25%. I have another friend who is a Wine distributor and they are cutting deliverys down from 5 days to 3.
This is all directly related to the rising price of fuel. People need to get smart and realize this problem will cripple this country...
2006 Allegro Bus, 42QDP, Tag axle, 400ISL.
|
|
|
Kajtek1
CA
Senior Member
Joined: 12/04/2002
View Profile
|
No specifics.
My guess is, that 25% cut off CEO pay will bring more savings, than 5% cut off 1100 employees pay.
Pessimist sees dark tunnel, optimist sees a light at the end, realist sees lights of coming train.Engineer sees 3 idiots on the tracks.
|
bill h
el segundo
Senior Member
Joined: 08/02/2001
View Profile
 Online
|
OH OH...............There goes some quality.
Cutting employees' pay usually means a lower quality product. The employees who are able to find better pay somewhere else are usually the higher performers. The ones who stay are often the lower performers or those older employees who are hoping for a retirement. So, the ones who do not or cannot leave are discouraged, and become poorer performers.
I am speaking from sad personal experience here. I was one of those who held on until retirement while I watched a lot of high performers leave. I watched discouraged and bitter employees become demotivated. This, of course, resulted in a lower level of performance and company loyalty. I even saw some employees who were super duper workers become demotivated, something I never thought I would see. Many performed only well enough just to keep from getting fired. The sad part is, so many became poor performers that you had to be a really low performer to stand out. The norm became a lower level of performance, and continues to drop.
CEOs usually have more complicated compensation packages than just salary. Pay is only part, often less than half. Upper level executives often have secret slush funds for benefit enhancements and are paid retention bonuses in addition to their pay, stock options, etc. It goes on and on. Even the Wall Street Journal misses a lot in their annual executive pay issue. I know of one CEO who took a pay cut but had so many enhancements to his total package that he actually ended up with more. They picked up the tab for all kinds of stuff he was paying for himself.
As an example do you know what it costs to play golf at the Master's in Augusta?
I also watched our CEO retire with his credited years tripled, in addition to the other enhancements to his "golden parachute".
Bill and Susan
84 Barth 30 tag powered by ht502/Thorley, Gear Vendors OD
Siamese Calvin and Airedale Hobbes
4WD Toyota toad
|
Mr Brew-Ski
Southern California
Full Member
Joined: 06/01/2007
View Profile
Offline
|
ORbiker,
It could be much worse, they could have been employed at
National RV who went bankrupt last year forcing them to close their doors right before Christmas.
A 5% pay cut seems like a gift in comparison.
2000 Monaco Windsor 40' 330HP
1988 Suzuki Toad
20' Enclosed "American" Trailer
250, 300 & 400 Honda Quads, Custom Golfcart
2007 GMC 2500 HD Sierra Duramax LMM
Proud Father of A United States Marine!
|
husker 2
Sequim WA
Senior Member
Joined: 02/05/2005
View Profile
|
Sounds like my kind of company and CEO. There are many more that could follow their lead. Hope if times improve substantially good bonus checks happen
2004 GMC 2500 6.0L CC SB Reese 16K Slider Prodigy BC Jayco 24 ft 237a Quest 5er
A decrepid old driver a foxy navigator and one cranky Griff puppy named Bandit. Look for a "Big Red" license NEBR 1
|
Skid Row Joe
On the road in America
Senior Member
Joined: 04/26/2006
View Profile
|
Business isn't off for all manufacturers. Newell Coach reported a record breaking year for 2007. They're not laying-off. It depends on the manufacturer, and how well they manage their business.
I have a sweet tender nature, however I enjoy sharing my thoughts and opinions. 
|
|
|
