Bonneville Intl. Implements Cost-Reduction Measures
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Bonneville International told employees on Thursday about a series of cost-reducing measures designed to trim operating expenses in a slowed economy. Among the measures are salary reductions for its higher-paid employees, adjustments to vacation accruals and carryovers, elimination of company-participation health club memberships, and a reduction of holiday remembrances for employees.
"Our corporate management team and market managers," said President/CEO Bruce Reese, "have looked at this very carefully and thoughtfully. We believe these adjustments are reasonable and necessary to maintain the health of our company and its valued employees.
"While we're privately held," he continued, "we're not immune from today's economic realities. Our ownership is not short-term in its approach to our business. I know that Bonneville continues to be a leader in this industry, especially in terms of the quality of the people who work here and the products they produce."