fbpx

BRP Announces Additional Measures to Manage COVID-19 Impact

After slowing down and temporarily suspending manufacturing at all our powersports and marine operations sites around the world, BRP are taking additional actions, including cost-containment measures and changes in employee compensation to protect our financial flexibility and long-term growth.

BRP Inc. has announced a series of additional measures in light of the COVID-19 pandemic. After slowing down and temporarily suspending manufacturing at all our powersports and marine operations sites around the world, BRP are taking additional actions, including cost-containment measures and changes in employee compensation to protect our financial flexibility and long-term growth.

“These are challenging and unpredictable times. We are taking all the necessary decisions to protect our employees, ensure BRP’s long-term growth and be ready to react quickly should the markets recover faster than expected,” commented José Boisjoli, president and CEO of BRP.

“We entered this crisis from a strong position, with significant market share and financially solid. And with key strengths to rely on: our product portfolio, geographic sales and manufacturing footprint. This, along with the talent and resilience of our people and our experienced management team, provides us with a solid base to navigate through this period of uncertainty,” concluded Boisjoli.

Changes in employee compensation

Following the slow down and temporary suspension of all our production lines worldwide and the temporary layoff of a majority of our hourly employees, certain measures have been put in place for office workers until further notice. Depending on the region and local regulations, they include:

  • A global hiring freeze;
  • Temporary layoffs and furlough for some employees;
  • Reduced work schedule in some countries;
  • Selected permanent layoffs.

In addition, until the end of the fiscal year:

  • Salary of all directors and vice presidents is reduced by 15%;
  • Salary of most office employees is reduced by 10%;
  • President and CEO, José Boisjoli, has decided to forgo his salary;
  • All remunerated members of BRP’s Board of Directors have elected to forgo the cash portion of their compensation.

We will continue to work with local authorities to access government emergency relief measures and wage subsidy programs, where available, in order to mitigate the impact on our employees.

Other cost-containment measures

In addition to these efforts, we are taking further steps to maintain our financial flexibility, which includes the reduction of our operating expenses and the postponement of certain capital expenditures, investments and projects in order to protect our long-term growth plan.

Link: BRP

You May Also Like

LAND Partners With Bloom to Supply Electric Battery Solutions

The LAND and Bloom collaboration spurs efficiency, growth and innovation across the light electric vehicle industry.

LAND logo

LAND announced it is joining forces with Bloom, a Detroit-based aggregated and standardized marketplace offering operations-as-a-service for the light electric vehicle (LEV) industry.

The strategic partnership builds upon LAND’s vision: Change mobile energy through e-mobility and swappable batteries. With 20 global patents, LAND’s compact and connected CORE battery platform moves two-wheel and four-wheel LEVs, as well as boats and RVs, and provides a portable power grid.

Moto Guzzi USA Announces Northeast Demo Tour

Attendees will have the opportunity to get behind bars of the newest Moto Guzzi models.

Moto Guzzi Northeast Demo Tour, Moto Guzzi 2024 motorcycle models
Segway Powersports Adds New Managers

JJ Pecsok joins as sales operations manager and Caitlyn Williams transitions to field marketing manager.

segway-new-managers-feature
Suzuki and H.E.P. Announce Next 2024 RM Army Boot Camp

The boot camp includes track time, pro rider interactions and unforgettable moments at this event for Suzuki motocross motorcycle owners.

suzuki-boot-camp
Turn 14 Distribution Adds EVS Sports to the Line Card

The partnership between Turn 14 Distribution and EVS Sports will bring customers an expanded selection of powersports protection.

turn-14-evs-feature

Other Posts

Boundless Rider Launches Safe Rider Program

The Safe Rider Program utilizes AI-powered crash detection technology to provide real-time emergency response coordination.

Boundless Rider logo
Dainese Group Announces Atlanta Flagship Location

This new location in Atlanta is an experience with racing memorabilia and full lines of protective wear.

Dainese, D-Store Atlanta
Kawasaki Unveils New Interactive Build & Price Tool

This new interactive tool is available for Ridge and Ridge XR side-by-sides, offering customers to personalize vehicles in real-time.

kawasaki-build-price-tool-feature
The Exclusive Aprilia Pro Experience Is Back

Special guests include Aprilia Racing MotoGP riders Aleix Espargaró and Maverick Viñales as well as MotoGP Legend Max Biaggi.

aprilia-pro-experience