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“Protective Products of America has a highly flexible business model, enabling us to make rapid reductions to the workforce by eliminating contract positions, and thereby lowering our overhead expenses,” said Stephen Giordanella, chief executive officer. “With the extension of the U.S. Army's IOTV approval process, we made the prudent business decision to temporarily reduce our workforce while we wait for the IOTV opportunity to materialize. We are confident that we can quickly ramp up to meet demand once these contracts are awarded.
“Over the last couple of years, we have taken numerous actions to turn the company around, and we are very proud of the progress we have made. This action is consistent with management’s philosophy of running the business, which is to take advantage of every opportunity to cut costs and focus on the future growth of the company.”
The company’s website is located at www.protectiveproductsofamerica.com.