Railway Company Cuts Salaries
PHILADELPHIA, April 2 The Pennsylvania Railroad Company, the world's largest railway, today cut by 10 per cent, the salaries of all of its employees earning more than 10.000 dollars a year. A company spokesman declined to reveal how many employees were affected or how much money the company would save in this manner. He said it was an internal company matter. But he explained the step was taken as “part of the Pennsylvania Railroad's over-all adjustment to economic conditions.”
The Pennsylvania Railroad has been operating at a loss sinc»l»st November.
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Press, Volume XCVII, Issue 28552, 3 April 1958, Page 13
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94Railway Company Cuts Salaries Press, Volume XCVII, Issue 28552, 3 April 1958, Page 13
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