Monday, November 23, 2009
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- Man shot in police encounter
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Maui Land & Pineapple lays off 100 employees
POSTED: 01:30 p.m. HST, Feb 24, 2009
Maui Land & Pineapple Co. said yesterday that it is cutting 100 positions at its Kapalua Resort and corporate headquarters in Kahului.
The company also instituted a ten percent reduction in salary for all of its remaining employees, matching a cut taken previously by senior managers and all employees in the company’s agricultural division on January 1.
“Like so many companies around the world, the unprecedented economic environment
requires us to make very difficult choices,” said Warren H. Haruki, executive chairman of MLP. “While we remain hopeful for an eventual economic turnaround, we must respond decisively to current conditions. With forecasts for fewer tourists, a tough real estate market, and tight financing for the next several years, we need to be prudent and move MLP to a more competitive cost structure. By doing so, we position MLP for future success when the economic situation improves.”
Maui Land & Pineapple Co. said yesterday that it is cutting 100 positions at its Kapalua Resort and corporate headquarters in Kahului.
The company also instituted a ten percent reduction in salary for all of its remaining employees, matching a cut taken previously by senior managers and all employees in the company’s agricultural division on January 1.
“Like so many companies around the world, the unprecedented economic environment
requires us to make very difficult choices,” said Warren H. Haruki, executive chairman of MLP. “While we remain hopeful for an eventual economic turnaround, we must respond decisively to current conditions. With forecasts for fewer tourists, a tough real estate market, and tight financing for the next several years, we need to be prudent and move MLP to a more competitive cost structure. By doing so, we position MLP for future success when the economic situation improves.”
Today’s Edition
- Troubled bridges over island waters
- Man shot in police encounter
- 70 U.S. Army reservists receive warrior citizen awards
- Family raises $66,000 for son's liver surgery
- Ocean Watch: A love of fish catches new friends, families
- Island Images
- Newswatch
- Police and Fire
- Trader with a taste for risk fishes for tuna from a kayak
- Deal will turn a hospital private, with goal of efficiency
- Readers asked to share holiday horrors
- Easing holiday stress
- It's About Time: An annual reality check can help you reorganize
- Da Kine
- Pet Ohana
- Got nutrients?
- Wahine dominate All-WAC honors
- Hawaii starts defense of its WAC tourney title tomorrow
- Crucial homestand for chance at bowl
- Five big plays from Hawaii's 17-10 victory
- Further Review: Streak means nothing with 8-3 Navy heading in
- Garcia advances at Reef Hawaiian Pro
- Hawaii Beat
- Scoreboard
- Television & Radio
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