Buck Knives cuts pay, hours

 

By BRIAN WALKER
Staff writer

Posted: Thursday, Aug 06, 2009 – 11:33:46 pm PDT

Workers take 10 percent hit due to economy

POST FALLS — Buck Knives has cut employee pay to try to weather the economic downturn.

“Due to continued slowness in the economy, Buck Knives has implemented a companywide 10 percent reduction in pay and/or work hours,” C.J. Buck, president and CEO, said in a written statement. “We hope the economy is transitioning to a more robust state. However, we must prepare in case it does not.”

Phil Duckett, Buck chief operating officer, said the situation will be reviewed on a month-by-month basis.

The decision affects roughly 200 people at the company’s knife manufacturing facility in Riverbend Commerce Park. Duckett said the company has not had layoffs in several months.

After her shift Thursday, one female employee, who didn’t want to be identified, said the salary reduction is tough to swallow, especially since her husband doesn’t have a secure job, but she understands the company’s situation of being in survival mode.

“Yes, it’s hard and, no, I don’t like it,” she said. “But I think the company is just doing what it has to do for the time being. I just hope it doesn’t get worse before better. I hope we’ve hit bottom with this economy, but it’s hard to tell at this point.”

Duckett said economic woes endured by Buck’s customers have had a ripple effect on Buck.

“One of our significant customers is off-plan over 20 percent, and we have had multiple customers file for bankruptcy,” Duckett said. “(Those) are the major factors in the actions we’ve taken.”

The latest reductions come after multiple layoffs at Buck in 2008, including 23 during one round.

But, to limit the bleeding, Buck has implemented an “American Commitment” program aimed at making more knives in Post Falls and reducing offshore outsourcing.

“We are proud to say that 95 percent of our new knives for 2009 and 2010 will be made here — and all of our hunting knives are made in the USA,” Buck said earlier.

Previously, about 30 percent of the company’s products were imported.

Buck moved from San Diego to Post Falls’ Riverbend Commerce Park about four years ago, partially to cut business expenses.