Tuesday, December 2, 2008
Pink Slips for Xmas at NAM
Update: NAM is cutting its budget by 10 percent resulting in the elimination of 17 full-time positions. Read John Engler's email to his board here.
The National Association of Manufacturers, which employs one of the highest paid DC trade association executives, John Engler, who received total compensation of $1.2 million in 2006, has laid off staff just weeks before Christmas, a spokesman for the organization confirmed. He said someone would call me back to say how many employees were let go. One source said as many as eight or ten people received pink slips.
We will update the story as we get more information.
-- Bara Vaida
Tuesday, December 2, 2008
Bara Vaida
comment From John Engler, president & CEO of NAM, via his spokeswoman:
"As the voice of manufacturing in Washington, the NAM faces the challenge of doing more for our member companies on a range of complex issues that will confront the new Administration and new Congress. Yet, the economic realities facing our members are impacting our budget and projections for the coming year. My experience has been that out of challenging economic times, the best-run companies emerge stronger with their foundations for success enhanced. So, today, I have taken difficult but necessary action to reduce costs and preserve our ability to provide our members with critical services. We will continue to execute our strategic plan. We will focus on core issues - the next stimulus package, card check, healthcare, energy, pension relief, trade, climate and the environment, taxes and others - that are vital to
manufacturers. In this time of unprecedented political change and
economic turmoil, our manufacturing agenda is essential to our nation's recovery. The NAM remains dedicated to its success. "