Norpac employees get 10% wage cut, retirement reductions
Norpac has cut its employees’ wages by 10 percent and reduced retirement benefits as it struggles to recover from lost production time and other financial woes.
The move left employees frustrated and worried.
Employees were notified last Thursday that in addition to the pay cut, the company would no longer contribute to employees’ retirement or 401(k) plans. The company also has placed new restrictions on vacation time aimed at reducing labor costs. The wage and benefit reductions went into effect Monday.
Norpac was a 50-50 joint venture between Weyerhaeuser Co. and Nippon, but the mill was bought out by One Rock Capital in October. There are about 400 non-union employees at the Longview mill, which produces newsprint, book paper and office copy paper.
Read more: http://tdn.com/news/local/norpac-employees-get-wage-cut-retirement-reductions/article_df33f7a4-9f05-567b-86b2-1d967db147c6.html
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