National Spinning cuts pay

Published 11:51 am Tuesday, November 25, 2008

By Staff
Economic woesaffecting company
Newsroom Manager
National Spinning Company announced in a Nov. 21 letter to its salaried employees that they will take a week off work in 2008 without pay and will see a 5 percent wage reduction in 2009.
In Washington, about 185 people are employed by the company.
In a brief telephone interview Monday afternoon, Chesnutt blamed much of the economic downturn in the national economy on the prior two presidential administrations.
Chesnutt said no National Spinning Company salaried employees, including executives, will receive Christmas bonuses in 2008.
Chesnutt said National Spinning Company intends to survive the bad economic climate.