Andrew Peykar, Nourison president, discussed the payroll protection program and plans for returning employees to work on CNBC's series, The Path Forward -- Getting Back to Work.
SADDLEBROOK, N.J. -- Andrew Peykar, president of Nourison Industries, was interviewed by CNBC for the business network's series, The Path Forward -- Getting Back to Work.
Peykar noted in the interview that the company has retained all 400 employees during the coronavirus crisis, originally cutting salaries by 20 percent, and then bumping back to 100 percent after receiving Paycheck Protection Program funds from the federal government. "That was the essence of what PPP was about. The funds will last until mid-June," he said, noting that e-commerce is also helping Nourison "weather the storm."
CNBC interview with Nourison Andrew Peykar discussed the company's strategy during the Covid crisis.
Nourison execs are now holding daily strategy sessions on the path forward so they are prepared when the state of New Jersey lifts restrictions on stay at home orders for businesses, Peykar said. "We can't wait for the governor to open without plans in place," he explained, detailing options such as bringing staff back in staggered groups of half on site, half working at home and alternating or returning employees with private offices first, and effective remote workers last.
In the CNBC interview with Nourison's Andrew Peykar, he details the strategy to get the company back in business during the health crisis.
View the interview here.