Hawaii Recovery not Until 2012 or Later, CEO Survey Indicates
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What other cost-cutting measures have you taken in the past 6 months?
- Renegotiated all vendors for cost reductions.
- Employers need to be creative to keep workers busy.
- Our problems are with the government just as much as the recession. A long and unreasonably delayed building permit cost well over $1 million in cost overrun and lost revenue. The State Government is out of control.
- Better purchasing, eliminate unnecessary costs. No layoffs, pay cuts but did institute pay freeze.
- Not buying any new equipment until things improve.
- None required. income reduction is in land sales which take little to no manpower on our part while other work continues. (Note: substantial increase in second half due to sales that closed in July and will close by year end. Year on year revenue is likely to be a reduction of revenue of around 10%.)
- Cut inventory.
- Found ways to be more efficient in all areas of business.
- Reduced overtime for hourly employees, implemented energy-saving initiatives.
- Small adjustment to workforce to reflect workload’s slight decline.
- Financially constrained by tight credit market, growth in revenue and profit, need to expand staffing, bankers not supportive.
- There are not many projects out there to bid.
- We continue to expand, as this represents a time for a return to foundational planning, increased training, and with a better market to find those seeking new opportunities, a great time to hire.
- And if that was not bad enough you would think the State would become more business friendly...
- Watched expenses. Watched utility costs, Internet costs, office supply costs.
- Laid off 60 staff and eliminated 30 positions. Some changes in workforce hours.
- Reduced or eliminated travel expenses. Eliminated company holiday parties. Reduced or eliminated staff training expenses. No salary increases. Kept selected open salaried positions vacant.
- Negotiate harder with vendors. Increased employee portion of medical contributions.
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