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The agency's review revealed that no fewer than 279 firms mentioned the conflict as a factor for implementing protective strategies to mitigate the economic impact, such as increasing prices and reducing output.
The report indicates that other companies have halted dividend distributions or stock repurchases, put staff on mandatory leave, implemented fuel surcharges, or requested government support.
According to Reuters, companies are encountering significantly increased energy costs, disrupted supply chains, and obstructed trade routes because of the closure of the Strait of Hormuz.
Following the company's reduction of its annual forecast by fifty percent and the suspension of dividend payments, Whirlpool CEO Marc Bitzer stated that the industry's downturn was akin to what occurred during the global financial crisis.
source: reuters.com
The report indicates that other companies have halted dividend distributions or stock repurchases, put staff on mandatory leave, implemented fuel surcharges, or requested government support.
According to Reuters, companies are encountering significantly increased energy costs, disrupted supply chains, and obstructed trade routes because of the closure of the Strait of Hormuz.
Following the company's reduction of its annual forecast by fifty percent and the suspension of dividend payments, Whirlpool CEO Marc Bitzer stated that the industry's downturn was akin to what occurred during the global financial crisis.
source: reuters.com
