Brief: Flexsteel Industries - 25% Temporary Reduction To Base Salaries Of CEO, CFO, Among Others

Flexsteel Industries

13/04/2020 14:22

April 13 (Reuters) - Flexsteel Industries Inc  FLXS.O :
    * FLEXSTEEL INDUSTRIES -ON APRIL 8, COMPENSATION COMMITTEE
APPROVED 25% TEMPORARY REDUCTION TO BASE SALARIES OF CEO, CFO,
AMONG OTHERS
    * ANNOUNCED TEMPORARY LAY-OFF OF EMPLOYEES ALIGNED WITH
BUSINESS
REQUIREMENTS AND LOCATION SHUT-DOWNS
    * FLEXSTEEL INDUSTRIES -  COMPENSATION REDUCTIONS WILL
INCLUDE
TEMPORARY 50% REDUCTION OF CASH COMPENSATION FOR COMPANY'S BOARD
OF DIRECTORS
    * FLEXSTEEL INDUSTRIES - HAS BORROWED $15 MILLION UNDER ITS
REVOLVING CREDIT FACILITIES TO INCREASE LIQUIDITY AND STRENGTHEN
ITS FINANCIAL POSITION
    * COMPANY'S REGULAR QUARTERLY CASH DIVIDEND IS UNDER
EVALUATION

Source text: (https://bit.ly/34vADwM)
Further company coverage:  FLXS.O 

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