Brief: Strattec Security Temporarily Suspending Quarterly Dividend

Strattec Security

14/05/2020 21:27

May 14 (Reuters) - Strattec Security Corp  STRT.O :
    * STRATTEC SECURITY CORPORATION TEMPORARILY SUSPENDING
QUARTERLY
DIVIDEND PAYMENT AND OTHER STRATEGIC ACTIONS
    * STRATTEC SECURITY CORPORATION TEMPORARILY SUSPENDING
QUARTERLY
DIVIDEND PAYMENT AND OTHER STRATEGIC ACTIONS
    * STRATTEC SECURITY CORP - OFFICERS REDUCING THEIR PAY 15%
TO 25%
    * STRATTEC SECURITY CORP - OUTSIDE MEMBERS OF BOARD OF
DIRECTORS
REDUCING THEIR ANNUAL CASH RETAINER BY 25% TO 50%
    * STRATTEC SECURITY CORP - MOST U.S. SALARIED ASSOCIATES
REDUCING
WAGES BY 10% THROUGH REDUCTION IN WORKING HOURS
    * STRATTEC SECURITY - U.S. SALARIED WORK FORCE WAS REDUCED
BY
ABOUT 10% BY NOT REPLACING SOME POSITIONS THAT RECENTLY LEFT AND
BY PERMANENT LAYOFFS
    * STRATTEC SECURITY CORP - HOURLY WORK FORCE IN MILWAUKEE
WISCONSIN, EL PASO, TEXAS AND MEXICO OPERATIONS AGREED TO TAKE
VOLUNTARY LAYOFFS

Source text for Eikon:  ID:nGNX17gH0Q 
Further company coverage:  STRT.O 

 ((Reuters.Briefs@thomsonreuters.com;))