Beaulieu of America, one of the world's largest carpet makers, instituted a 10% pay cut from top to bottom for its 5,200 employees. This is how a business deals with a deficit. “We felt that was a better thing for us to do with everybody company wide versus us deciding to lay off another 400 to 500,” said Jeff Meadows, a Beaulieu spokesperson.
Meadows went on to say, “Over the last five years, the industry has probably closed at least 90 (plants). Basically our demand level wouldn’t warrant us to close any additional facilities, but at the same time because of the weak demand and very high raw material costs for carpet this year this move was necessary.”
That means even the president of Beaulieu gets a haircut like everyone else. Has anyone in Washington thought about cutting all of those fat government salaries and fringe benefits? Everyone who works for the government from the president to the janitor in the embassy in Ecuador should take a pay cut until our country is out of debt.
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