New global realities have created mixed circumstances for Ten-Sleep-based Eleutian Technologies Inc. Demand for English instruction in South Korea and other countries via the Internet has expanded, prompting the company's recent recruiting efforts to hire more teachers in the Big Horn Basin. The company is expected to grow between 200 and 400 percent in the coming year as it offers English instruction to more classrooms in South Korea and other countries.

But, because the exchange rate for South Korea's currency, the won, declined in recent months in comparison with the U.S. dollar, the wages the company can pay those teachers are smaller.

Brent Stanger of Eleutian said English-teaching services in South Korea are paid for in won, so when the exchange rate declines, so does the amount of money Eleutian receives to pay its teachers.

In February, the exchange rate for the won was down by 50 percent in comparison with the dollar. It is somewhat stronger now, but still considerably lower than it was in September.

When the won declined, said company President Kent Holiday, Eleutian officials had two choices: Let the unprofitable part of the business go and lay off teachers or reduce wages and save teachers' jobs.

“We looked at it and said, ‘Keep the jobs and work with the teachers,'” Holiday said.

Holiday added that wages were lowered by 10-20 percent, but the company also is working on a profit-sharing agreement to compensate teachers at a higher rate when the exchange rate improves.

Stanger explained, “The profit sharing plan, when we reach that level, will give back what we've taken from them.

“The profit sharing is unique, and teachers will benefit. You don't see a lot of that in America today.

“We're trying to preserve jobs,” he added. “The company is not benefiting from this.”