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Headquarters: Des Plaines, IL
2009 Revenues: $378.8 million
Change in Sales from 2008: -21.9%
Key Executives: CEO Thomas J. Neri; COO Harry A. Dochelli; CFO Ronald J. Knutson
In Lawson Products' 2009 10K, it said: "In response to the recession and our declining sales, we took a number of steps to realign our cost structure with the new economic reality. In 2009 we reduced our work force by over 18%, temporarily suspended annual compensation increases, curtailed or delayed spending on certain services and supplies and reduced expenditures on capital equipment. The closure of two of our distribution centers also resulted in significant cost savings." OEM sales were especially hit hard by the recession. As a result the distributor has developed a plan to restructure its sales organization, optimize its distribution network, and replace its legacy information systems with a "best-in-class ERP system."
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