Showing posts with label Flex. Show all posts
Showing posts with label Flex. Show all posts

Monday, March 9, 2020

Flex cites COVAD-19 impact on contract manufacturing

As a result of the still-evolving COVID-19 situation, Flex (formerly Flextronics) expects its fourth quarter fiscal 2020 results to be negatively impacted and the company will not meet its current guidance.

“Our cross-functional teams have done an amazing job returning more than 80% of our colleagues back to work, in a disciplined and safe manner. On behalf of the Flex leadership team, my sincere thanks to all my Flex colleagues for their commitment to safety and dedication to ramping up production at our China factories,” said Revathi Advaithi, Chief Executive Officer of Flex. “We are working intently with our supply chain partners and are well-integrated with our customers as we navigate the disruptions from this situation. I am confident that now more than ever, our focus on execution and our ability to move with speed at scale will enable us to navigate through these events with discipline.”

More detail is expected on March 11.