President October 20‚ 1990 TO: Weymouth Steel Corporation Salaried Employees I am writing to tell you about two important matters. One is extensive improvements in your compensation and benefit programs. The other concerns the need for the company to make sizeable reductions in its overall operating costs in the U.S. The compensation and benefit improvements include substantial base salary increases for eligible General Salary Role employees; more liberal adjustments in the cost-of-living
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WEYMOUTH STEEL CORPORATION Case Overview: Weymouth Steel Corporation in September‚ 1990 is having a critical time in finding out the ways to communicate the bad and good news to its salaried employees. An erroneous selection of time and communication channel selection may demoralize the workforce completely resulting in a disaster for the company. The good news is that the company management has decided to increase the salary and benefits of almost all the salaried employees regardless of their
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WEYMOUTH STEEL CORPORATION Weymouth Steel Corporation is currently in the sort of dilemma which may turn into a disaster for the company. However‚ given the situation if the top management is able to inspire its employees (who survive this downsizing) with a vision and hope for the rejuvenation of the company; this dilemma can easily become a pivotal time for its success. Once the bad news is broken and the downsizing process starts‚ stress is inevitable; for both the employees who will be terminated
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Case Overview: Weymouth Steel Corporation in September‚ 1990 is having a critical time in finding out the ways to communicate the bad and good news to its salaried employees. An erroneous selection of time and communication channel selection may demoralize the workforce completely resulting in a disaster for the company. The good news is that the company management has decided to increase the salary and benefits of almost all the salaried employees regardless of their grades while on the other
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Memo2: Weymouth Steel From: Olga Aiupova Dear Mr. Harrison‚ It well known that Weymouth steel corporation needs in immediate measures for reducing costs. So I had to make a plan of actions. And I would like to give some recommendations for the employee’s layoff. As far as I know Corporation did her best to reduce costs‚ for example the initiated following measures: to close down less efficient factories and to terminate using of overtime and the hiring of temporary salaried employees. In
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Johannsen Steel Company (JSC) initially focused on high-quality‚ high-carbon‚ and high-margin steel wire and ever made big success. In 1946 it was sold to West Virginia Steel (WVS) and then experienced the shocking change of steel industry during 1960s and 70s. Facing the pressure of competitors‚ JSC began to intend to expand sales and cut cost to maintain its profit level. As a result‚ the sales revenues kept increase‚ but the net profit was very low (no more than 2%). JSC now has to make some
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Table of Contents Chapter1: Tata Steel All About Tata Steel.......…………………………………………………………………03 Origin and Growth………..……………………………..………………………………05 Acquisitions……….………..……………………………………………………………07 Study Of Various Programmes…………………………………………………………09 Awards and Recognition……...…………………………………………………………12 Chapter 2: Productivity Vs Employee Morale Employee Engagement………………………………………………………………...14 Employee Retention……………………………………………………………………...16 Quality Work Life ……………………………...…………………
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2012 Carl Weymouth Chairman of the Board Weymouth Steel Corporation 133 Industrial Avenue Gary‚ IN 46403 Dear the entire Weymouth staff‚ I would like to thank for your time to spend on Weymouth Steel Corporation and believe you have good working opportunities when you have been in the corporation. Over the past few years‚ because of economy crisis‚ an estimated 25% fall in business and the anticipated capital spending expenditures of $2 billion a year. In addition‚ Weymouth has more
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| | INTRODUCTION The Bethlehem Steel Corporation (1857-2003)‚ base in Bethlehem‚ Pennsylvania‚ once was the second largest steel producer in the United States (after Pittsburgh‚ Pennsylvania-based US Steel). But following its 2001 bankruptcy‚ the company was dissolved and the remaining assets sold to International Steel Group in 2003. In2005‚ ISG merged with Mittal Steel‚ ending US ownership of the assets of Bethlehem Steel. During its life‚ Bethlehem Steel was also one of the largest shipbuilding
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It is safe to say that most people in the world are salaried employed workers and not entrepreneurs. There is a significant difference in being an entrepreneur and a salaried worker. An entrepreneur is a person who organizes and manages their business‚ taking lots of risks. A salaried worker is someone working for another person’s business for pay while having a lot of security. While the entrepreneur has more freedom‚ the salaried employee takes lesser risks. As an entrepreneur you have plenty
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