BlueLinx Holdings Inc. has developed plans designed to reduce its cost structure, strengthen its balance sheet, and further increase liquidity in response to the COVID-19 pandemic. Initial steps taken to reduce operating costs include:
- Paused all hiring.
- Limited all non-essential spending.
- Substantial headcount and variable operating expense reductions correlating to local market demand declines.
- Furloughed approximately 15% of corporate workforce.
- Reduced or eliminated executive and key management base salaries for the next six months.
- Maximizing working capital efficiency to enhance liquidity for operations.
BlueLinx Holdings Inc. is a leading distributor of building and industrial products in the United States.
