The weak economy continues to impact Knife Industry

BuckLogoLast week, Buck Knives announced it was cutting 200 employees salary to hold its own through these uncertain economic times.

The Coeur d’Alene Press reported the Post Falls, Idaho knife company, one of the largest employers in Northern Idaho, made a 10 percent reduction in pay and/or work hours. While the company hasn’t had layoffs in several months this move is a result of “economic woes endured by Buck’s customers” that continues to impact Buck according to Phil Duckett, Buck COO in an interview with staff writer Brian Walker. Buck had multiple layoffs during 2008.

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

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Published in: on August 9, 2009 at 12:30 pm  Leave a Comment  
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