Wednesday, February 10, 2010

Fraser Paper Reduces pay to Workers

The workers at the Fraser Paper Madawaska paper mill in Maine agreed to have their paychecks cut by 8.5% as part of a new contract mill management says is needed to keep the facility from closing. This initiative will save the company $4Million in annual savings.

3 comments:

Anonymous said...

Cool blog you got here. It would be great to read more concerning that matter. Thank you for posting this data.

Anonymous said...

Fraser Employees made a difficult decision, but the right one. Alternative was to close the doors. Did management also take a reduction?

P. Scott Vallely said...

I just learned that the Fraser Union upset because the executives enjoyed huge bonuses while the company was filing for bankruptcy and labor wages reduced 8.5%.