Guayakí avoided 2003 layoffs by instituting company-wide pay cuts
Chris Mann · Guayakí Yerba Mate: David Karr and Chris Mann · Nov 28, 2022 · at 41:38
Chris Mann and David Karr, co-founders of Guayakí, discuss managing a severe cash flow and inventory crisis following temporary media exposure in 2003.
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“We actually did not lay anyone off through that experience, and I bring it up only because it was a big decision, and it was kind of formative to how we grew. We decided that everyone would take a pay cut rather than lay people off, and so the Samiyas, we took the biggest pay cut, but everyone took a pay cut.”
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