Summer model giant lays off 80, may hire 1,000
Thursday, January 1, 2009
PROVO, Utah--In what he characterized as a move to "eliminate redundancies and inefficiencies," ApxAlarm director of media relations Stuart Dean confirmed Jan. 28 that Apx had laid off approximately 80 workers last week.
The workers were a mix of part- and full-time positions from different departments. Most were based here in Provo. The layoff affected about two percent of Apx staff, which totals 4,000 positions. "Any successful company has to look at the process of becoming more efficient and productive and that's our focus," Dean said.
ApxAlarm is the largest summer-sales-model company. Last year it sold close to 185,000 new accounts and, a few months ago, its executives predicted 75 percent growth for 2009. With the slowing economy, that estimate has been revised downward to 50 percent growth. That estimate is based on the 230,000 accounts currently serviced by Apx. (Over the past few years, the company has periodically sold groups of accounts.)
Dean said Apx has "plenty of cash on hand for all of its business needs now and into the future ... in fact we have more cash reserves going into the summer sales season now than ever before."
In addition, work on the new campus is proceeding ahead of schedule, Dean said. "We originally expected to finish the new campus in the spring of 2010 and we're now looking at December 2009." The new campus is being built to enable Apx to expand and he said, "it's not unrealistic to expect that we'll [eventually] add another 1,000 jobs. We fully expect to grow by leaps and bounds over the next three to five years."