Thread regarding Astec Industries Inc. layoffs

Layoffs and shutdowns in 2020

Low sales and Barry's desire to boost share price is leading to a lot of consolidation and layoffs this year. CEI was shutdown last fall, and I think KPI is next. Heatec gave a nice party to early retirees in June, and then the following week reduced the office workforce by another 30%. A reduction in force while maintaining the status quo, let alone inflated salaries of upper management is not a recipe for long term success.

Its a "too many chiefs, not enough Indians" situation that will likely end with Barry selling off a very lean company with a wide portfolio that can't sustain itself without substantial reinvestment in an employee pool to meet demand. Will look good on paper, but just treading water.

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