Richardson Industries, Inc | 2000 and Beyond
2000 and Beyond
As the 2000s arrived, although Cabinet Maker reported that Richardson Brothers had been able to drop the price of domestic goods twice in 18 months due to more efficient manufacturing processes, the company still faced a harsh economic climate and heightened foreign competition. Subsequently, layoffs occurred in the Richardson Brothers unit. The first workforce reduction took place in 2001, when 70 employees were let go. Although those workers eventually returned, 42 employees lost their jobs at the Richardson Brothers Sheboygan Falls plant in September 2002, followed by another 25 in April 2003. In the April 26, 2003, edition of the Capital Times, the company cited a need to "bring its production into line with customer demand and to reduce accumulating inventory."
Considering the sluggish economy of the early 2000s, the layoffs at Richardson Industries were not out of line with ones at countless other U.S. manufacturing companies. Backed by more than 150 years of success, the company was likely to weather the difficult times and continue its success in the 21st century.