Kyocera recently sent out a Corporate Statement that provided an update on What’s Happenin’ at Kyocera.
With their permission, here is the letter:
Like businesses across the country, we at Kyocera have focused our recent efforts onto the best way to recover from the unprecedented challenges posed by the COVID-19 pandemic. As we communicated to you recently, we made the difficult decision to place part of our team on furlough as a cost reduction method to help us to stabilize our company financially in these circumstances. The Federal Government has now decided to end its additional unemployment support for terminated and furloughed employees.
With this in mind, we will follow through on our commitment to protect our Kyocera family by bringing the team who are currently on furlough back to work on August 3rd. We believe that now is the perfect time to regroup and push harder than ever before to begin to recover from this crisis.
We also took steps to reduce costs by adjusting the pay of the rest of our team who continued working. As of August 3rd, pay will be restored for all of our employees. These are the first steps we are taking as we return to normality.
While most of our colleagues on furlough will be returning, I must also share that we have made a reduction to the workforce which was originally expected to take place at the end of the fiscal year in March. However, because of the extraordinary circumstances we found ourselves in due to the COVID-19 pandemic, the adjustment was delayed until now. This was a difficult, yet necessary decision which has affected 74 people, with 16 coming from KDA headquarters in New Jersey and regions, and the rest being spread over 10 out of our 12 subsidiaries across the US. All of those affected have been informed. We are appreciative of their contributions during their time here and wish them the best.
We believe that these difficult decisions give us a strong base to prepare for recovery and a bright future. If you have any concerns or questions, please feel free to let us know and we will be more than happy to help. As always, we believe that transparency is key to establishing a strong relationship with our analysts and there has never been a greater need for relationships like ours in these challenging times.