After the executive vice president refused to implement massive layoffs in sales a couple months ago he was let go.
Now senior management is implementing the layoffs that he refused to implement. Sales are down because manufacturing cannot deliver. All large capital projects that were implemented are not performing or delivering the product anticipated. Leadtimes for engineered product are astronomical. Waterworks construction companies are going elsewhere for their product.
I heard 40 people from corporate were let go yesterday.
more let go today
engineering, atlanta
What’s happened is that most if not all of the capital expense projects approved by the CEO are not paying off anywhere close to what was promised or anticipated. New CEO started in July 2017. 6 1/2 years later the stock is gone from $13 to $15– 16. Spending shareholder money with little or no return. How this CEO still has a job is amazing to employees. Investors and so-called analysts seem to be ignoring the issues.
So sad to hear such a great company failing. I wonder what changed. On time delivery was such a priority when I worked there.