GenRad Inc of Concord, Massachusetts is making further efforts to cut costs and is initiating a salary reduction programme from July 1 that is designed to save more than $2m. US employees must take three unpaid days off this week, and five unpaid days off the second week of August. Also, management level employees will have their salaries reduced for the quarter on an upward sliding scale, with the most senior management seeing reductions between 15% to 25%. GenRad has postponed indefinitely its annual merit salary increases, and reduced capital spending and expenditures such as travel. Research and development expenditure, around $31m or approximately 17% of total turnover in 1990, will be closer to 14% of turnover in 1991.
