American Woodmark, AWC , has announced layoffs for May 2020 due to COVID-19. More information is forthcoming but apparently this involves all levels from HR to Sales and Marketing to logisitics and manufacturing. If you have more info post here.
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This lay-off was going to happen regardless of a crisis. This was planned since the merger with RSI, this was second round of significant cuts. Blaming it on Covid let them justify it (and save face). Lot of fat can be trimmed there... especially in upper management.
If u think American woodmark cares about its people....think again
Yes I was also one of the corporate office layoffs. I absolutely loved the company and my job and hope to be able to work there again. Only thing I don’t understand is why in April a New SR VP position was created for a current board Member i Sales and Marketing division for 300-400k. But when Sales numbers nose dive they keep their bloated salary and middle class who have been busting butt through this Covid-19 crisis have the rugs pulled out from under the essential people while the VPs sit at home in a pile of $$$
Yep, it’s true. I’m one of them. What a great company. Was there almost 10 years and I’m really going to miss it. Best job I’ve ever had. I know the CEO is doing everything he can to keep people employed. Thanks China, thanks a lot...
American Woodmark has also done the following:
• A 50% reduction in the base salary of the CEO and 25% reduction in the base salary of senior vice-presidents effective April 27, 2020 through July 31, 2020
• Deferring any earned fiscal year 2020 short term incentive payments to the CEO and senior vice-presidents for six months
•Delaying capital expenditures that do not impact near-term initiatives
•Suspending any current activities under its stock repurchase program
•Deferring or limiting non-essential operating expenses
•Deferring 401-k matches until the end of the calendar year
•Freezing hiring and taking other cost actions to protect existing jobs
•Adding 4-5 weeks to lead times for impacted customers
American Woodmark layoff in 2020 due to COVID-19 - its true.
Yes, I heard that as well - it involved a decent chunk of people. Not sure what the future holds.