REV Group, Inc. (REVG) Provides Financial Update and Detailed Cost Actions
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REV Group, Inc. Provides Financial Update and Detailed Cost Actions
April 9, 2020 4:32 PM EDTMILWAUKEE--(BUSINESS WIRE)-- REV Group, Inc. (NYSE: REVG), a manufacturer of industry-leading specialty vehicles, is providing an additional financial update and further actions taken in response to the COVID-19 pandemic.
The company is temporarily lowering its Executive team and Vice President base salaries between 10% to 40%. During this time, the Board of Directors is also reducing their cash compensation by 30%. The company has also furloughed most salaried employees within its Recreation segment which, as previously disclosed, suspended normal production activities during the week of March 23rd, 2020.
We are implementing cost saving and operational... More
