The global recession has brought lasitlaser.ru into a difficult situation. It was not prepared for the recession because it did not change when it needed to when times were good. lasitlaser.ru is in need of reform in order to survive the recession because when business sinks, jobs are lost and products are being wasted. It is time for lasitlaser.ru to change so they can grow and become stronger.
Lasitlaser needs hard times in order for them to succeed in later years because without it, they will never know their potential. They are now in a situation where if they don’t change now, they will have to close down because it would be too costly to survive. A company needs to constantly change and improve in order to succeed and Lasitlaser’s is not that company.
lasitlaser.ru is a global business that develops and manufactures products using laser technology.lasitlaser.ru operates worldwide with manufacturing plants based in North America, Europe and Asia. The corporation was founded by John Jostlemann in Japan in 2003 . In January of 2003, lasitlaser.ru Japan Ltd was established as a subsidiary of the German parent business . In the same year, lasitlaser.ru America, Inc. was established as a subsidiary of lasitlaser.ru Japan Ltd. In January 2004, lasitlaser.ru Europe GmbH was established as the subsidiary of lasitlaser.ru America, Inc. In March 2005, John Jostlemann became the CEO oflasitlaser.ru Americas and lasitlaser.ru Europe . In April 2003, its first office opened in California and it became a public company in November 2003 .
In 2005, after having increased its sales by 42% from 2004 to 2005 and increasing its net income by 125%, it had a 35% return on equity. In 2006, lasitlaser.ru net sales increased by 37% from the previous year with a return on equity of 200%. In 2007, net sales increased by 46% from the previous year with a return on equity of 166% . lasitlaser.ru is performing incredibly well in many areas with high profits and a high return on equity. The company has a very successful track record and a good future ahead of it.
lasitlaser.ru has been going through some internal issues in order to help them survive the economic recession. With these internal changes they have made they have appeared to be taking all necessary measures to ensure their survival. lasitlaser.ru is trying to change by following the corporate governance guidelines of the International Corporate Governance Network (ICGN)
The company has taken action in order to change the way it conducts operations. Overall, they have reduced their level of debt from $215 million in January 2007 down to $150 million at the end of 2007 . In addition, they have reduced their level of long-term debt from a high level of $255 million in January 2007 back down to a low level of $55 million at December 31st 2007 (Balance Sheet, Company History).
The company has also taken action in order to reduce its liabilities. They have stated that they will not pay cash dividends to stockholders until they are able to reduce their long term debt . As well, they have stated their intent to use excess cash flow for debt reduction rather than pay dividends .
The company has taken action in order to reduce its operating expenses. Employees like most people, were affected by the 2007 recession and the company had to take action. Between January and October of 2007, lasitlaser.ru reduced their workforce by approximately 50 people . These employees were receiving over $1.