The company, which traces its roots to 1902, moved to North Idaho from California four years ago, in part to cut business expenses. Opening in Post Falls with 225 employees,
That was in 2005, when the unemployment rate in Idaho was at a historic low of less than 4 percent – less than half its current rate.
The Post Falls-based knife manufacturer is cutting the pay of every employee by 10 percent in response to the slow economy. The decision affects about 200 employees.
The pay cut follows a round of layoffs last year when the company shed 23 jobs. Read More
I was thinking that maybe these workers that are getting their pay cut, and those that are losing jobs by the thousands didn’t go out and put themselves into debt buying a new car on the Cash for clunker Obama program. Its not wise to go into debt for a new car when you don’t know if you will have a job tomorrow is it!