Lazydays is reducing its workforce and taking other immediate actions in response to the COVID-19 crisis.
The Florida-based, multistate dealership is cutting its workforce by 25 percent, while members of senior management are forgoing 25 percent of their salary. Other cost-saving measures include suspension of 2020 annual pay increases and 401k matching, as well as the delay of non-critical capital projects. Lazydays will focus resources on core sales and service operations.
“Despite the very strong sales activity experienced for most of the first quarter, we have begun to see a decline in store traffic and demand driven by recent events,” Lazydays Chairman and CEO William P. Murnane said. “The overall magnitude and length of the impact from the coronavirus pandemic is uncertain at this time. We are hopeful the duration will be relatively short, but believe it could possibly be months or quarters before business returns to normal. Our hardworking and dedicated employees are the soul of our business, and it is very difficult to take these actions. However, we must respond quickly with every action possible to maintain our ability to serve our customers now and as the industry recovers.”
The company’s top priority is the health and safety of its customers and employees, Murnane said. To that end, Lazydays is closely following all CDC guidelines related to the coronavirus, he said.
With much of the nation sheltering in place, many people are using RVs to self-quarantine. Lazydays is an essential business, the company said. As a supplier of RVs, Lazydays provides shelter and housing. The company also performs motor vehicle repairs and conducts repairs and maintenance of living places, systems and appliances.
“Our customers will remember how they were treated in a downturn, and we will provide them with the same great experience they have come to expect from Lazydays,” Murnane said. “We have withstood tough times in the past, and we will endure this crisis as well. The Lazydays culture has remarkable resilience and determination, and we will exit this difficult period stronger than ever. I want to thank the Lazydays employees for their hard work and commitment during this challenging time. They are an extraordinary team.”
