ESI Execs Take Temporary Pay Cut

The President and CEO and Vice Presidents of Portland-based micro-engineering components provider Electro Scientific Industries are taking a temporary pay cut to recoup some cash from slumping sales. The cut began on December 1 and lasts until February 28, 2009 – CEO Nicholas Konidaris’s salary is dropping by 15%, and the VPs’ salaries are being cut by 12%. The move is expected to save ESI about $45,000 over the three month period.