Tuesday, September 7, 2010
Some Companies Reverse Trend to Cut Pay and Benefits
Link to September 7 Milwaukee Journal-Sentinel article, ''Companies slowly restore slashed pay".
Excerpt: Slowly and fitfully, companies have been restoring pay and benefit cuts made in the depths of the worst recession since the 1930s.
The actions appear to be widespread enough to constitute a trend, but they're not universal, and they offer scant cause for celebration. Joblessness remains stubbornly high, economic growth has slowed and pay increases, overall, are modest at best.
But many firms that suspended contributions to employees' retirement plans are making them again, and many have lifted salary freezes they imposed.