Atlas World Group announces temporary pay cuts for Evansville staff

Evansville Courier & Press staff report

Atlas World Group has announced a temporary pay cut of 5 percent for all employees at its Evansville headquarters.

The cut will go into effect in January and last through the first fiscal quarter. Employee benefits will not be affected, according to a news release from the moving industry company.

"Atlas' financial strength relies on both our people and our conservative fiscal policies," said Greg Hoover, president and chief operating officer of Atlas World Group. "To protect both, we evaluated several different scenarios, but in the end, we chose to preserve our workforce and the knowledge and experience they bring. We greatly value our employees and their contributions. We know a pay cut, even though it's small and temporary, is a burden for every employee, but this allows us to retain jobs for the entire Atlas family."

In a statement to employees, Hoover pointed out that the transportation industry is experiencing its biggest downturn in three decades.