The company was adversely affected by the COVID-19 (coronavirus) pandemic
The company’s operations were negatively affected by the COVID-19 (coronavirus) pandemic. For example, travel restrictions created challenges for the company to complete projects and perform services. Additionally, COVID-19 (coronavirus)-related supply chain disruptions contributed to a restriction in the performance in some of the company’s suppliers, vendors and subcontractors. Furthermore, the company experienced additional deferrals and delays in projects from changes in customer spending trends. All of these factors made it difficult for the company to invest in some capital investments during the time, including service offering expansions and acquisitions.
COVID|Competition|ESGIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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