With appointment of new CEO Brad Feldmann, 401k maching has gone from 3% to 4% of salary, however profit sharing has gone from a standard 8% salary to varying 2%-9% salary based on profits meaning the total of 11% is unrealistic to expect each year. No guideline was given for what the companies bottom line was needed to attain the original 11%. Routinely 20-30 year employees have been laid off in favor of cheaper options or "cost cutting restructuring". Sick time and vacation time were recently combined to Personal Time Off (PTO) but the number of hours given overall were less. Managers do not care about mentoring young talent and as a result younger employees leave after a few years. Initiatives by the CEO to deliver everything on time or early has causes product quality to slip as well as salary employees to routinely work 13-14 hours with no over time pay. Hourly employees are told not to work overtime to keep costs down.
Employees on travel have been encouraged to stay in the least expensive hotels, and take the least expensive flights to save on travel costs. Meanwhile upper management still flies first class with 5 star accommodations.
