Newmarket, NH–Russound has announced a reduction in its workforce due to the current state of the economy, the continued decline of new housing starts in the builders market and adverse economic conditions in foreign markets as well.
Russounds business is primarily tied to the home building industry, which has been in decline for well over a year now, said Joe Brouillet, Russounds CEO. Everyone in the custom installation business is thinking about how the reduced number of new housing starts is going to affect our business over the next few years.
For our part, we are committed to minimizing changes within the company while ensuring that Russound remains a true market leader with the resources to continue supporting our clients through unbeatable product reliability, training and customer service.
Added Brouillet: Although this is a strategic decision and one that had to be made, it was a difficult one, as Russound has always valued its employees as one of its biggest assets.
On the heels of that news, the companys vice president of strategic development, Jeff Kussard, has decided to step down from his position in order to focus his attention on supporting the custom installation market.
Throughout my career, Ive been fortunate enough to work with some of the most advanced and forward-thinking companies in the business, but I can honestly say that my time at Russound has been my most satisfying tenure so far, said Kussard. But, I also know that the custom installation market is in the midst of an important growth spurt, especially as far as new technologies are concerned, and the place for me to learn and continue to help influence the market is on the front line.
Added Kussard: When I first joined the company I had no idea that the people and the culture would have such an impact on me. I am privileged to have been a part of this very special community. I am deeply proud of the good work my colleagues and I have accomplished, and I have no doubt that Russound will continue to blaze a path for others in this business.
Jeff has been much more to this company than his title implies, said Brouillet. From technology to market trends, Jeff is as solid and committed an expert as youre going to find. But, just as important to our team, Jeff has been a close friend and adviser. Though it saddens us to say goodbye, we respect and support his decision to help support the industry as an independent consultant rather than a Russound executive.
Brouillet added that while no successor has been named, the company will soon begin an active search, both in the company and the industry at large.