"With most of our employees working remotely, the Meredith team has risen to the challenge and continues to successfully serve our clients and consumers and demonstrate the enduring value of Meredith," said Meredith President and Chief Executive Officer Tom Harty. "Traffic to our digital properties is robust, viewership for our local news broadcasts is high, and print subscriptions remain steady. Given recent lifestyle changes, our content is particularly relevant now as more Americans are spending time at home and are demonstrating expanded interest in DIY, food and entertainment, as well as local news programming. "At the same time, the COVID-19 crisis has created an extremely challenging business environment, including significant advertising campaign cancellations and delays," continued Harty. "While our financial position is strong, given the impact on advertising – which represents approximately half of our revenue mix – we are proactively taking aggressive actions to strengthen our liquidity and enhance our financial flexibility in the near-term to effectively navigate the current environment." Due to the uncertainty stemming from the COVID-19 crisis: *Meredith is implementing a series of operational cost-control measures, including reductions in Board of Directors fees and officer, executive and exempt employee salaries; and even tighter control over production costs and variable expenses. Finally, Meredith is making significant reductions in capital expenditures and working with customers and suppliers to optimize working capital.
Amazon.com, Inc. (NASDAQ: AMZN) today announced plans to open its second fulfillment center in Joliet, Illinois. The company will create more than 2,000 full-time jobs at the facility in addition to the 1,500 full-time employees currently working at its existing Joliet facility.
“We have found an abundance of talent in Joliet and we are excited to bring a new fulfillment center to the city and create 2,000 great full-time jobs with benefits,” said Akash Chauhan, Amazon’s vice president of North American operations. “This community and the elected officials throughout the city and state have been very supportive of Amazon and we thank them for helping make this possible.”
“By expanding its investments and operations in Illinois, Amazon will employ thousands more hardworking residents to grow our economy,” Illinois Governor Bruce Rauner said. “Amazon is a global business leader, making significant commitments to Illinois and our workforce. This expansion is a vote of confidence in the state’s new way of doing economic development in Illinois with the ILBEDC working alongside the Department of Commerce and Economic Opportunity.”
Amazon employees at the new 700,000 square-foot Joliet fulfillment center will pick, pack and ship smaller items to customers like books, toys and electronics.