Hello again and thank you for spending more of your time with me so I can share a few updates about NAL and our efforts to combat COVID-19.
First, with regard to mask concerns, we have made significant progress in our pursuit of an optimal cloth mask option. We have conducted additional trials at each NAL plant, received feedback as to which mask provided the greatest level of comfort, and have placed orders for the favored mask. Our hope is to get them in-stock and begin delivering them to Team Members by early to mid-October. Aside from the comfort improvement, one additional benefit of a cloth mask is that we will no longer be sending hundreds of masks every day to the landfill. Environmentally speaking, this is a plus! Additional details concerning their distribution are forthcoming.
Recently, a few questions have been brought to my attention regarding NAL’s financial health. This is a natural question considering the environment that we find ourselves in. Please know that, despite significant operational losses so far this year, NAL is well-positioned to remain viable in the long term. Yes, we did sustain a sizeable shock to the system when automotive production ceased for a long period, but the actions we’ve taken in response to the crisis, along with our strong footing beforehand, will enable NAL to weather the storm.
The dramatic nature of the COVID shutdown caused us to take more swift and decisive actions than ever before. Although necessary to stave off even greater losses, the actions we took did have an impact on the personal lives of our Team Members. Furloughs and temporary wage reductions impacted nearly everyone at NAL. The wage reductions were graduated based on compensation. On a personal level, I deeply regret these actions, yet they were truly unavoidable.
Naturally, those of you affected by wage reductions are wondering when your pre-COVID salary will be reinstated. That question will be answered when NAL returns to sustainable profitability, which we hope to happen soon. Given current sales predictions, we anticipate profitability to return by the beginning of next year, which should allow for a wage correction as early as January 1st.
Lastly, I think it’s important to touch on the current barrage of political ads and messaging as the election draws near. Please know that NAL is, and shall remain, a safe haven from politics. We neither endorse nor advocate for any candidate, party or group. We also do not want our facilities adorned with political propaganda of any kind. That holds true for clothing worn by our Team Members. NAL is not the place for divisive messaging. Although I respect your views and freedom of speech, and encourage all to vote, please refrain from wearing politically themed clothing at work. Thank you in advance for your cooperation on this matter.
Again, let me say thanks for taking the time to listen to this message. I appreciate your support and tireless efforts on behalf of NAL. You are the reason NAL is a successful company. Please accept my best wishes for your continued health and safety.