FY2021 10-K Document - FINAL 11 15 21 - Flipbook - Page 27
Table of Contents
COVID-19 IMPACTS ON OUR BUSINESS
The spread of the COVID-19 outbreak has disrupted businesses on a global scale. On March 11, 2020, the World
Health Organization classified the outbreak as a pandemic. As we entered this crisis, the Company established two
clear priorities: first and foremost the health and safety of our employees and their families, and second, continuing to
meet the needs of our customers and secure the financial well-being of the Company. Substantially all of our
operations and production activities have, to-date, remained operational. In response to the COVID-19 crisis, we
implemented changes in our work practices to maintain a safe working environment for production employees at our
facilities, while enabling other employees to productively work from home. As we commence bringing employees back
to the workplace and return to in-person meetings with customers and suppliers, we have adopted a flexible work
approach. These actions will allow for a smooth transition from COVID-19 conditions to a future that better meets the
needs of the business and the interests of our employees. Additionally, we will fully comply with the U.S.
Government's Safer Federal Workforce Task Force's guidelines on vaccination requirements for employees of the
federal government and their contractors and subcontractors. As economic activity recovers, we will continue to
monitor the situation, assessing further possible implications on our operations, supply chain, liquidity, cash flow and
customer orders. We believe that our existing financial arrangements are sufficient to meet our operating needs, and
have adequate borrowings under short and long-term arrangements that could provide additional relief if necessary.
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