BRP Inc, a manufacturing company that creates innovative ways to move people on snow, on water, on asphalt and in the air has recently announced a set of additional measures in respect to the ongoing pandemic COVID-19. In the early days of the pandemic, BRP slowed down its production, and the increase in the pandemic growth over the months has led to a temporary suspension in its manufacturing at all its powersports and marine operations sites around the world, thereby leading them to take additional measures, which includes cost-containment measures, chances in employee compensation to help create a protection for financial flexibility and long term growth.
The CEO Jose Boisjoli said “These are challenging and unpredictable times”.
The measures adopted for the office workers, which depends on the region and local regulations are:
- Selected permanent lay-offs
- Temporary lay-offs and furlough for some employees
- Reduced work schedule in some countries
- Global hiring freeze
- Also, till the end of the fiscal year
Compensation of all Directors and Vice presidents is cut down by 15%
Many of the employee’s compensation is reduced by 10%.
President and CEO, Jose Boisjoli has willingly let go of his salary
All renumerated members of BRP’s Board of Directors have decided to forgo the cash portion of their compensation
To further strengthen the measures, there will be reduction of the operating expenses and postponement of certain capital expenditures, investment and projects for the advance of the company’s future plan.
BRP Inc is a leading organization globally in the production of powersports vehicles, propulsion systems and boats, It has been in existence over 75 years.It has kept its attributes of ingenuity and intensive consumer focus ever since its inception.BRP operates manufacturing facilities in the United States, Canada, Finland, Mexico, and Austria. The total workforce are more than 13,000 driven, resourceful people..