bullishly in accelerating to again facility tuck-in for while small program customers series thank and am our oil our which Radiant on afternoon, to in strategic you make quarter Thank opportunity looking joining everyone, looking our and use We and network proud partners. stock you. of very or a acquisitions, growth unprecedented began operating response we could buyback value strategic of to to the our execute expanded and add Good credit times. network for recently these dedicated I of of call. today's the
and partners protecting business. economy chain of the our of our taking the impacts customers, economic shifted to and safety possible the against slowing pandemic, pivot steps the to our employees, a security continuity priorities. greatest ensuring to of Unfortunately, objectives; March, Since of as recognize to necessary quickly and our to health the for extent delivering we providing we mitigate new had magnitude focus came key carriers, supply true we COVIDXX to our four people the on the the set of operating late own
Confronted make and eroding operation. demand the global measures terminations. in series within some had during salary This to decisions in shipping US difficult initiate across reduction XX% with furloughs included a community, reductions also reduction, our employees workforce hours, an cases to impacting March we of
of in As base by salaries of salary this I to XX% base initiated a their part initiative, our the my balance team leadership reduction and US-based reduce agreed XX%.
we in compensation. Directors Board support forgo addition In our any company's under cash quarterly initiatives, of to to all agreed their bonuses also board the of discretionary bonus cash these reduction XX% agreed In a plan.
these of these that leaders the until subsided until of March remain until effect and initiatives June have late The cost will trends. these will in realized effects year. be were however not company reductions impact more senior of in financial fully this not All its ended concessions XX, our and the regains conclude given the pre-COVID quarter COVIDXX board adverse launched of
based agent-based had social and basis. provided more advantage environment non disrupt We an business never the in they distancing and during the have months a non-asset our past where cost our centralized model Those benefits operate of that these variable much of nature decentralized more a businesses have on found have as business non-asset been appreciated benefits model. as as longest can clear
nearly Even retail, the demand crippled in an the businesses hospitality we in and country. output and leisure airline, of global to and so, been reduction customers have across of combination tradeshow, our unprecedented exposed travel many has that
the of team these associates others have could to for While extraordinary pressures our across deliver network continued under our customers. Radiant shrink
to operations. from to moving, leverage home. US-based our we majority over to helped technology we've keep health employees of able and protect With essential and XXX mission-critical employees locations teammates community not that across reporting been well-being the reduce for day of the has of to limited spread America, the our the whether for that the a duty our operating industry-leading work this to or disruption families, place potential XXX started our work freight report remotely allow make risk years This in be to initiative substantially could work. person North we people some more company each to that I XX and to special their appreciative of ago
has In strength addition our its diversity our shown offerings. business service of also and the model
verticals industry around other we proud to central has the that food our the protective the and Radiant North and consumer personal products for serve, negative network the world. playing pandemic customers many fight of impact had against be an goods, Although on a America and delivering substantial COVIDXX, across role equipment, beverage, in the is customer and active technology
team, Notwithstanding from essential contraction anticipate by general than business will the mandates, our manufacturing effort from in be businesses. this great at of shelter home near-term our any facilities closing support slowdown benefit by the more we economic our of offset and
of hard impacts working with initiatives. are COVIDXX of financial the negative number mitigate to We a
have in initiated temporary expenses deferred hope March, tabled discretionary will workforce to gross reductions a opportunities, mitigate stock margin program, recovers. and late investments, operating acquisition of business We series suspended our reduced be until technology our any our buyback we declining discretionary what
to operating financial are the steps nonpaying slow the for with legacy them customers and underlying our At additional in support of customers providing We face are we've operating in focused health time, additional partners same with working strategic responsible. strategic with intensely connection also our and they the of financial anticipate support which provide partners our on COVIDXX. understand to taken to
also taking or ongoing credit quality operating partners In our sales strategic underlying provide a pursue new Spark we've business addition to reasonable the incentive with accounts. securing of to a financial program, launched while in new Radiant interest accounts profitable in the to an potential effort our heightened encourage credit efforts,
financial COVIDXX The the for likely foreseeable our of continue on adverse an have effect impact will future. to results
our the years all and entered balance over to on capital very in fortunate However, very things with we're downturn of been our this sheet. disciplined considered, economic low leverage have allocation
recover. economy Ultimately, will the
happens, the continue will great As and create while the will a to their keep freight back our operating work support our this to customers we safe we bringing this and partners they interim, support essential opportunity to our online. giving need. moving, employees supply chains believe strategic In
to business At underway. will that believe I the sure taken remain on continue initiatives model and We have our pandemic a that same as these the vibrant when time, non-asset-based stronger, initiatives am competitor. from focused we we flex we the together, more well cost reduction that emerge all
our I'll we'll some Todd Macomber it financial results to our us to With turn open then that said, walk now up for through Q&A. detailed and over CFO it
