Kleinpeter Farms Dairy has confirmed that it is instituting a 2.5 percent pay cut for all of its 215 employees to avoid having to raise its prices on its products during challenging economic times.

Kleinpeter Farms Dairy President Jeff Kleinpeter says in his 25 years at the company this type of across-the-board cut has been put in place five times — and that the policy has worked well for the business, employees and customers each time.

The Baton Rouge-based dairy maintains that while gas prices have fallen recently, fuel costs are still weighing on its bottom line. Even more significant, Kleinpeter says, is the rising price of raw milk it buys from other dairies.

“It’s more of a inhale/exhale type of exercise,” Kleinpeter explains, noting that the company keeps its finger on the pulse of sales and expenses and reacts accordingly. It’s also just as speedy to restore the cuts when expense factors or sales revenues reverse course.

“I can tell really quickly when sales slow up, and when they do, we simply consolidate a couple of routes, freeze wages, and wait until things pick up,” Kleinpeter says. “We are very quick to do that, and nimble on our feet, which many of the ‘big boys’ are not.”

To post a comment, please log into your IND account. If you do not have an account, click the "register" button to create one. Facebook comments can be used as an alternative to creating an account at theIND.com.

Loading
Chart
ABiz Stock Watch
o Home Bancorp 20.40 ▲0.15 (0.74%)
o Frank's International 26.55 ▼0.82 (-3.00%)
o IberiaBank Corp 65.10 ▼2.18 (-3.24%)
o LHC Group 21.18 ▼0.04 (-0.19%)
o MidSouth Bancorp 17.04 ▲0.14 (0.83%)
o Petroquest Energy 6.03 ▲0.37 (6.54%)
o PHI Inc. 42.56 ▲0.04 (0.09%)
o Superior Energy 32.55 ▼0.17 (-0.52%)
o Stone Energy 46.91 ▲0.66 (1.43%)
o Teche Holding 74.59 ▼3.19 (-4.10%)
o Facebook Inc. 62.24 ▲0.88 (1.43%)
o Twitter Inc. 45.08 ▼0.87 (-1.89%)
o Gannett 27.30 ▲0.20 (0.74%)
NYSE:HBCP

Home Bancorp

Company ID [NYSE:HBCP] Last trade:20.40 Trade time:12:52PM EDT Value change:▲0.15 (0.74%)
NYSE:FI

Frank's International

Company ID [NYSE:FI] Last trade:26.55 Trade time:12:54PM EDT Value change:▼0.82 (-3.00%)
NYSE:IBKC

IberiaBank Corp

Company ID [NYSE:IBKC] Last trade:65.10 Trade time:1:11PM EDT Value change:▼2.18 (-3.24%)
NYSE:LHCG

LHC Group

Company ID [NYSE:LHCG] Last trade:21.18 Trade time:12:49PM EDT Value change:▼0.04 (-0.19%)
NYSE:MSL

MidSouth Bancorp

Company ID [NYSE:MSL] Last trade:17.04 Trade time:12:27PM EDT Value change:▲0.14 (0.83%)
NYSE:PQ

Petroquest Energy

Company ID [NYSE:PQ] Last trade:6.03 Trade time:12:56PM EDT Value change:▲0.37 (6.54%)
NYSE:PHII

PHI Inc.

Company ID [NYSE:PHII] Last trade:42.56 Trade time:9:55AM EDT Value change:▲0.04 (0.09%)
NYSE:SPN

Superior Energy

Company ID [NYSE:SPN] Last trade:32.55 Trade time:1:11PM EDT Value change:▼0.17 (-0.52%)
NYSE:SGY

Stone Energy

Company ID [NYSE:SGY] Last trade:46.91 Trade time:12:56PM EDT Value change:▲0.66 (1.43%)
NYSE:TSH

Teche Holding

Company ID [NYSE:TSH] Last trade:74.59 Trade time:12:54PM EDT Value change:▼3.19 (-4.10%)
NYSE:FB

Facebook Inc.

Company ID [NYSE:FB] Last trade:62.24 Trade time:1:11PM EDT Value change:▲0.88 (1.43%)
NYSE:TWTR

Twitter Inc.

Company ID [NYSE:TWTR] Last trade:45.08 Trade time:1:11PM EDT Value change:▼0.87 (-1.89%)
NYSE:GCI

Gannett

Company ID [NYSE:GCI] Last trade:27.30 Trade time:12:56PM EDT Value change:▲0.20 (0.74%)
Advertisement

Read the Flipping Paper!

Click Here for the Entire Print Version of
ABiz
 
Advertisement
Advertisement