Top Oshkosh leaders volunteer for salary cuts

Oshkosh said today its chief executive has volunteered to reduce his salary from April 5 until the end of the fiscal year, which concludes Sept. 30.

According to a document filed with the Securities and Exchange Commission today, Wilson Jones' base compensation will be reduced by 25%, while other executive officers will see their base compensation cut by at least 15%, through either reduced salaries, furloughs or shortened work weeks.

The board accepted these voluntary reductions and proposed corresponding reductions for non-employee directors of the company, Oshkosh said. Non-employee directors will see their annual retainer and committee fees reduced by 25%.

"These actions support the Company's cost-reduction efforts in response to economic impacts on the Company related to the COVID-19/coronavirus pandemic," Oshkosh said.

"The Company is implementing additional cost reductions including furloughs, salary reductions and limiting travel, project costs, and other discretionary spending," it added.