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jan 1, 2008 - The Global Financial Crisis

Description:

Rolled out a program where there would be no layoffs, instead Instead, each team member was instructed to take an unpaid furlough for four weeks at a time of his or her choosing. All team members were given a furlough, even those in divisions that were faring relatively well. The company suspended executive bonuses, stopped its program of matching personal contributions to 401(k) retirement accounts, offered generous payments to team members who agreed to retire early, and ordered reductions in travel expenses. Chapman cut his salary from $875,000 to $10,500,

Added to timeline:

28 Oct 2017
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Barry Wehmiller Timeline

Date:

jan 1, 2008
Now
~ 10 years ago
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