Rockwell Automation Announces Plan to Reverse Salary Reductions, Restore 401(k) Matches for US Employees in November
October 15 2020 - 08:30AM
Business Wire
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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Jessica Kourakos Head of Investor Relations +1 414-382-8510
JKourak@rockwellautomation.com
Marci Pelzer Director, External Communications +1 414-687-8441
MPelzer@rockwellautomation.com
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