Tom Giacomini (CEO) had his admin send out today at 5pm notice that annual merit increases will be "delayed". Until when? Doesn't say.
JBT spent $50 million on consultants in 2019 and leadership refuses to make actual investments to professionalize and equip the businesses to grow (such as hiring talented people that know what functional excellence looks like vs the "JBT Operating System" way which means completely reactionary with no forward thinking & problem solving).
The largest business of JBT makes food processing equipment. That equipment gets used regardless of recession because people have to eat food somewhere whether it be fast food, grocery bought, or restaurant. It is about as recession proof as you can get.