Companies that adapt - bizjournals:

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The 40-employee company askedf its employees for input on the cuts and the overwhelminhgresponse was: We’d rather have pay cuts than The company decided to tier paycuts so management received 20 percenf cuts and lower-level employees would get less significant cuts. Thoss making less than $60,000 a year took no cut. “We let the peopld who really need the moneykeep it. And top managementy took the biggest hit,” said CEO Vito “That was really well The company, known by its acronymn EASi — also tied the pay cuts to revenuw targets. After a dreadfulk October, the company made its fourth-quarter targets by a couple hundrede bucks at theeleventh hour.
“Thr first time, we made it and everybody cheered,” Palmieri said. The companyt wasn’t as lucky in the first quarter of this year and had to ultimatelyh implement thesalary cuts. But Palmieri said in working to minimize impact on the company hasearned “We haven’t lost anybody,” said “And in fact, it’s been a morales booster because everybody feels like they’rer part of something.” Palmieri said taking care of the company’se people is an important business To that end, the company offers 100 percent healtgh care for its employees and their families.
“It costxs us 9 percent of salaryso it’s not cheap, but it’s uniquew today and sends a signal that we’l do whatever we can to take care of you,” Palmierui said. The company still faces Palmieri said EASi has had to work harder and take longedr to closenew business. But the company has managefd through, raising a $300,000 round of fundinf at the start of the downturn from family and employees to act as a cushion and directingb its sales force to focus onregional “Focusing on segments that can affor your product right now is very important,” Palmierk said.
But the real key to managintg throughthe recession, Palmieri said: “Keepintg the morale up. Keeping peopld motivated is very much partof it.”