BUSINESS OUTLOOK & COMPANY HEALTH UPDATE
UPDATE #14 – 4.7.20
Good News from Today:
Weifield is beginning work on the temp hospital activity at the Convention Center with Hensel Phelps. 6 WGC members were out on site yesterday. We hope to get as many people working on this project as soon as possible. This is monumental in Weifield history as we have made it as the “go to” for projects like this.
On the Bad New Side of Things:
As you may or may not be aware, the governor has extended the stay at home order until 4/26. This is slowly impacting the efficiencies of our company office, along with the delayed projects, and has caused us to re-evaluate the way we are doing things. It seems like the impacts are going to be much longer than anyone anticipated. As addressed in the 4/2 daily update, I (we) said we would be coming up with changes to align with the uncertainties.
The changes include eliminating the founders’ salaries for a time period, simplifying the company through non-employee cost reductions (a.k.a. tightening up our belts), cost reductions from working remote, making consistency between positions, reducing upper management wages for a time period, eliminate/reducing non-critical areas of the company (e.g. reduce training and marketing), job eliminations based on not meeting the PACT or the consolidation of roles.
The measures we are currently taking mostly impacts the office personnel and will allow us to keep the field strong and functioning. Many of these items show up on the blueprint and would be done this year, however, we are accelerating them to reduce expense and conserve cash. Many of you know that we have over 500 employees, so we do not qualify for any of the stimulus package.
On another note, we had our first confirmed positive case of COVID-19 today. This employee was working on the Avista Hospital paralleling project. The other Weifield employees have been put into quarantine and the project is on hold until we get it cleaned and cleared by the owner to return. Our fellow Weifielder has reported a lower fever and some slight coughing. Please keep him in your prayers.
Things have been changing rapidly and we are working around the clock to address the challenges and take quick action. We have a great leadership team who are all focused on making sure we are doing what is right for the greater good of the company. The cuts and expense reductions are all planned to be kept to a minimum and occur this week, a majority of the individuals impacted have already been notified.
It is never fun to make these types of changes in the company. We will keep the company strong so we can keep provide a great place to work.
Chief Executive Officer | Weifield Group Contracting