Louisiana-Pacific Corp., Nashville, TN, has announced a right-sizing effort,” which includes eliminating 14% of its salaried work force, or about 200 positions. “We have also reduced marketing and sales expenditures, frozen salaried employee wages, and moved our IT operations into a maintenance mode,” said CEO Rick Frost.
The company hopes to see cash savings of $30 million to $35 million on an annualized basis as a result of these moves.
Over the past several quarters, Louisiana-Pacific has suspended dividends, indefinitely curtailed operations at four OSB mills, and taken downtime at many other production facilities to manage working capital and preserve cash.
Louisiana-Pacific is a supplier of building products, and commodity and specialty …
Louisiana-Pacific Announces ‘Right-Sizing Effort’
Louisiana-Pacific Corp., Nashville, TN, has announced a right-sizing effort,” which includes eliminating 14% of its salaried work force, or about 200 positions. “We have also reduced marketing and sales expenditures, frozen salaried employee wages, and moved our IT operations into a maintenance mode,” said CEO Rick Frost.
The company hopes to see cash savings of $30 million to $35 million on an annualized basis as a result of these moves.
Over the past several quarters, Louisiana-Pacific has suspended dividends, indefinitely curtailed operations at four OSB mills, and taken downtime at many other production facilities to manage working capital and preserve cash.
Louisiana-Pacific is a supplier of building products, and commodity and specialty …
Share this article
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
