Public policy, discretionary government spending, recessions continue to threaten performance
Over the last 30 years, AGM has been pressured by economic difficulties stemming from public policy decisions, discretionary government spending and recessionary periods, particularly as the company relies on the US government as its key downstream market. Dramatic cuts to US defense spending severely affected AGM’s workforce, forcing the company to ay off 40% of its workforce in 1992. While the company recovered by expanding its market base, it also implemented company-wide policies to prevent future layoffs, particularly notable amid the COVID-19 pandemic and resulting brief recession. Some notable guidelines include keeping a backlog of low priority tasks to accomplish during downturns, increase inventory of standard product components during downturns, and keep strong inventory of most popular items. These guidelines have kept employees busy with tasks and have kept the company ahead of supply chain issues experienced in the aftermath of the pandemic.
COVID|Labor|New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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