Am I Next? Arrow Electronics to close asset recovery division and lay off hundreds.

Centennial, Colorado-based Arrow Electronics, a major manufacturer, assembler, and distributor of computers, electronic components and tools, has announced the closure of its 3-year-old, 400,000 square-foot Gahanna, Ohio “asset disposal” facility resulting in layoffs of 304 employees. The closure is estimated to take place around September 14, 2019. The facility is primarily dedicated to the refurbishment, recycling, or disposal of used computers and other electronic devices. It appears that this closure may be part of a larger world-wide effort to reduce costs and redeploy assets. According to a company spokesperson, “After careful market analysis indicating that business dynamics have changed since we entered this market, we have decided to wind down operations at our business.” Essentially, Arrow processed used electronics from large customers such as Boeing, Cisco Systems, Dell Technologies, Google, and others and re-sold them to retailers of used goods or international companies with less stringent demands and smaller budgets.

In addition, another 143 employees with similar tasks will be laid off at its Windsor, Connecticut asset disposal facility. With hundreds of more layoffs to follow as the company shutters its personal computer and asset disposition businesses world-wide.

Arrow Electronics President and CEO Michael J. Long noted that Arrow is “disappointed that our anticipated results for the second quarter are lower than we had initially expected” and cited the cause as “deteriorating demand in the global components business.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?