Maytag Corp. is cutting its salaried workforce by 20 percent, or 1,100 jobs, as part of a restructuring. The company also lowered its earnings expectations for the year.
It wasn't exactly an amazing revelation when an economist at the Bank of Nova Scotia reported that auto parts makers producing high labor content products will have an increasingly difficult time competing with the low-wage countries such as China.
If it's part of a well-defined improvement program, not an end unto itself, the low-hanging fruit is well worth picking. But beware, lest it turn out to be a poison apple.
The Fair Labor Standards Act of 1938, as amended, provides for minimum standards for both wages and overtime entitlement, and spells out administrative procedures by which covered worktime must be compensated.
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