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While many companies did indeed have to cut salaries to keep afloat, Regis had to do it for much deeper issues. Hugh Sawyer and the board have made many horrid decisions over the last 3-4 years - selling Regis and Mastercuts salons to a company known for not performing on their part was the first part. Hugh has made a once great company a horrid place to work. Culture is now horrid, the company is VERY top heavy - way too many "C-suite" execs and not enough to perform daily operations.
Hugh is a typical want to be east-coaster (lives in FL thinks he's NY) - even though we have some of the top advertising agencies here in MPLS, Hugh needed to open an office on Madison Ave - and of course needed to have IT in CA because us in the land of rocks and cows are too stupid to run a discount hair salon... guess what? Stock is at an all time low under Hugh's lead. Complete failure, there would be good cause for a class action against Hugh and the board of directors.
This is a really dumb post. Multiple companies have had to give pay cuts or layoff. Waste of a read.