Action reverses COVID-19 cost-cutting measures announced in April
Rockwell Automation, Inc. (NYSE: ROK) announced today that temporary salary reductions implemented in May will be reversed at the end of November 2020. The company match for U.S. employees participating in the 401(k) retirement savings plan will also be reinstated at that time.
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Rockwell Automation’s new contactor line in Milwaukee, Wis. (Photo: Business Wire)
Blake Moret, Rockwell Automation Chairman and CEO, said, “I appreciate our employees’ dedication to our customers, communities, and each other during these challenging times. Their safety, engagement, technical innovation and domain expertise are the foundation of our success. Disciplined control of costs and a gradually improving market environment enable us to reverse these actions before the end of the calendar year, one month earlier than the plan we announced in July. As we continue to closely manage costs in an uncertain environment, our differentiated technology, domain expertise and recent acquisitions position us well to profitably accelerate growth.”
Rockwell will announce results for the 4th quarter of Fiscal Year 2020 on November 10, 2020, followed by our annual Investor Day on November 17, 2020. Investor Day will be held virtually and at our world headquarters in Milwaukee, WI.
About Rockwell Automation
Rockwell Automation Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 23,000 problem solvers dedicated to our customers in more than 100 countries. To learn more about how we are bringing The Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com
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Source: Rockwell Automation, Inc.