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Rockwell reverses pay cuts and restores retirement matches

16 October, 2020

Rockwell Automation has announced that the temporary salary reductions that it implemented on its US employees in May in response to the Covid-19 pandemic, will be reversed at the end of November 2020. It will also reinstate its match for US employees participating in 401(k) retirement savings plans at the same time.

In April, Rockwell announced that it was cutting the salaries of its non-manufacturing employees temporarily by 7.5%, with chairman and CEO Blake Moret taking a 25% pay cut, and all senior vice-presidents losing 15% of their salaries. These cuts will now be reversed.

“I appreciate our employees’ dedication to our customers, communities, and each other during these challenging times,” says Moret. “Their safety, engagement, technical innovation and domain expertise are the foundation of our success.

“Disciplined control of costs and a gradually improving market environment enable us to reverse these actions before the end of the calendar year, one month earlier than the plan we announced in July,” he adds. “As we continue to closely manage costs in an uncertain environment, our differentiated technology, domain expertise and recent acquisitions position us well to profitably accelerate growth.”

Rockwell Automation has also announced that its Automation Fair held annually in the US will this year be a mainly virtual event, with limited onsite sessions at its Milwaukee headquarters, if conditions permit. Renamed Automation Fair At Home, the event will take place from 16-20 November.

“Our customers look forward to Automation Fair every year to explore what’s next in their digital transformation journey,” says Tina Dear, Rockwell’s vice-president of marketing. “We’ve blazed new trails and explored new technologies to make this year’s Automation Fair At Home experience a dynamic, interactive, world-class virtual event.”

Rockwell Automation CEO Blake Moret at the 2019 Automation Fair: this year's event will be largely online

The Fair will include keynote presentations, product demonstrations, technical training, industry forums and the opportunity to interact with executives and technology experts. If conditions permit, there will be physical elements including small, in-person group experiences and tours at Rockwell’s headquarters in Milwaukee.

“We want to provide our customers with options to attend based on what works best for them, with the confidence that we are implementing the recommended protocols and ensuring safety is paramount,” Dear says.

Registration for Automation Fair At Home is now open

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