DULUTH, MN – IKONICS Corporation (the “Company”) (Nasdaq:IKNX), a Duluth-based imaging technology company, announced it will furlough approximately 40% of its 81 employee workforce until July 31, 2020. Employees were notified on June 25th, 2020 and furloughed employees will continue to receive benefits. In addition to the furlough, IKONICS is suspending the company’s contribution to its 401(k) retirement plan. These measures, together with previous actions that included a reduction of officer and board compensation, and the elimination of all non-essential expenditures will help to partially offset the impact of lost revenue from the COVID-19 pandemic.
Glenn Sandgren, IKONICS CEO noted, “This is a painful but necessary action that impacts all of our IKONICS family. We are working diligently to put the business on a firm footing, allowing us to bring back these team members as soon as economic conditions allow.”
Browse News Archives
2022
2021
2020
Q1
Q2
Q3
Q4
2019
Q1
Q2
Q3
Q4
2018
2017
Q1
Q2
Q3
Q4
2016
Q1
Q2
Q3
Q4
2015
Q1
Q2
Q3
Q4
2014
Q1
Q2
Q3
2013
Q1
Q2
- Jun. 21, 2013: IKONICS® Corporation to Be Added to Russell Microcap® Index
- Apr. 25, 2013: IKONICS Promotes Hegman to Vice President of Sales, North America
- Apr. 24, 2013: IKONICS Announces First Quarter Results and Status of New Business Initiatives
- Apr. 18, 2013: IKONICS Corporation Works with Lockheed Martin on Ceramic Matrix Composites
Q3
2012
Q1
Q2
Q3
2011
Q1
Q2
Q3
Q4
2010
Q1
Q2
Q3
Q4
2009
2008
2007
Q1
Q2
- Sep. 21, 2007: CHROMALINE® Reformulates PC 787
- Sep. 12, 2007: IKONICS CORPORATION ANNOUNCED AS FINALIST FOR EIGHTH ANNUAL TEKNE AWARDS
- Sep. 7, 2007: IKONICS Acquires Option to Purchase City Land
- CHROMALINE® HIRES CRAIG SCHERER AS EAST COAST TECHNICAL SALES REPRESENTATIVE
- Aug. 27, 2007: IKONICS Imaging Introduces R3™
2006
2005
2004
Q1
Q2
2003
2002
2001
Q1
Q2
Q3
2000