Winnebago Industries cuts salaries and hours - KWWL - Eastern Iowa Breaking News, Weather, Closings

Winnebago Industries cuts salaries and hours

FOREST CITY (KWWL) -- A north Iowa company, Winnebago Industries, is cutting pay and work hours in an effort to cut expenses and save jobs.

The Forest City-based motor home maker says workers must take a weeklong "unpaid leave of absence" in the company's fiscal fourth quarter, with most taking June 29 to July 3.

The company says most salaried employees will see a 3% cut in pay beginning March 1. Vice presidents will lose 10% of their paychecks, while Chairman and Chief Executive Bob Olson will receive a 20% salary cut.

Winnebago Industries has been stung by the economy, last summer's high gas prices and credit tightening. The company cut its work force by 12%, to 1,700 employees, during the last three months of 2008.

Online Producer:  JJ Murray

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