Atlas World Group announces pay reduction as alternative to job cuts


December 15, 2008

Media Contacts:
Barbara Cox, Atlas Van Lines, 800.638.9797, ext. 2275 coxb@atlasworldgroup.com
Kristen Fuhs Wells, Hetrick


EVANSVILLE, Ind. — To protect workers from job loss, Atlas World Group, Inc. has announced a temporary 5 percent pay reduction for all Atlas headquarters employees, effective in January. The reduction will be in effect through the first quarter of 2009 as the company continues to monitor the economic climate. Benefits will remain intact.

"Atlas' financial strength relies on both our people and our conservative fiscal policies," said Greg Hoover, president and chief operating officer of Atlas World Group. "To protect both, we evaluated several different scenarios, but in the end, we chose to preserve our workforce and the knowledge and experience they bring. We greatly value our employees and their contributions. We know a pay cut, even though it's small and temporary, is a burden for every employee, but this allows us to retain jobs for the entire Atlas family."

In a statement to employees, Hoover pointed out that the transportation industry is experiencing its biggest downturn in three decades.

Atlas World Group is an Evansville, Ind.-based company that posted revenues of $943 million in 2007. Atlas World Group companies employ more than 700 people throughout North America. More than 500 Atlas agents in the United States and Canada specialize in corporate employee relocation and in the transportation of high-value items such as electronics, fine art and new fixtures and furniture. Visit www.atlasworldgroup.com for more information on the company and Atlas agents.

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