The Headcount Solution : How to Cut Compensation Costs and Keep Your Best People

Whether we succeed depends on you personally. I am asking a lot of you this morning. Specifically, I am asking you to do the following:

1. Keep your confidence in our company and our ability to succeed in the future. I assure you that in spite of this quarter’s losses we remain a healthy company at the core, and we have what it takes to succeed.

2. Get up each morning and think about our $25 million problem. Ask yourself: “What can I do, what can my team do, what can the company do to get unnecessary costs out?”

3. Share your ideas with coworkers and managers.

4. Don’t sit back and wait. Join your department’s efforts to identify cost-cutting opportunities.

5. Most important, don’t forget your work in all of this. I trust all of you will be diligent about conducting your work and keeping the company on track.

I love this company and hope you will join me in a commitment to persevere in these difficult times. Together, I am confident that we will come out of this with a company we can be proud of and which will survive.

Thank you for your attention. Let me now answer any questions you might have.