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| Pelco forced to reduce work force due to anticipated weak industry growth for 2010 |
"Layoffs are and have always been a last option for Pelco", said Dean Meyer, Pelco President and CEO. "This is a very unfortunate situation, but we must realign the size of operations to better match current economic conditions and to adjust for manufacturing improvements implemented over the last 12 months. This has been a very difficult conclusion for us to reach."
Officials added that even though an aggressive, company-wide approach to cost management was implemented throughout 2009 - including work furloughs, salary freezes, out-sourcing of non-core business functions - the continued economic downturn and the shift of business toward emerging economies has created an environment that cannot sustain the company's current U.S.-based operations. According to officials, about 100 employees are expected to be released. The reduced workforce will not have any impact on the company's ability to serve and support customers.
"We are doing our utmost to support those affected," said Meyer. "As we go through these difficult changes, I appreciate the support and understanding of the entire company. Pelco will do everything we can to help these employees find new opportunities."
Pelco will continue to build its reputation for providing industry-leading technologies and customer service by continuing to streamline operations, increasing its front-line selling resources and focusing on its core business.
