Maui Land & Pineapple lays off 100 employees


POSTED: Wednesday, February 25, 2009

Maui Land & Pineapple Co. said yesterday that it is cutting 100 positions at its Kapalua Resort and corporate headquarters in Kahului.

The company also instituted a ten percent reduction in salary for all of its remaining employees, matching a cut taken previously by senior managers and all employees in the company’s agricultural division on January 1.

“Like so many companies around the world, the unprecedented economic environment
requires us to make very difficult choices,” said Warren H. Haruki, executive chairman of MLP. “While we remain hopeful for an eventual economic turnaround, we must respond decisively to current conditions. With forecasts for fewer tourists, a tough real estate market, and tight financing for the next several years, we need to be prudent and move MLP to a more competitive cost structure. By doing so, we position MLP for future success when the economic situation improves.”