Celestica withdraws guidance after some offices are forced to close over COVID-19
The Toronto-based technology company has had operations in California and Malaysia affected
TORONTO — Celestica Inc. is withdrawing its financial guidance for the first quarter as a result of efforts in California and Malaysia to contain the spread of COVID-19.
The Toronto-based technology company says much has changed since it issued the guidance in January.
On March 16, counties in California issued “shelter-in-place” orders that require Celestica to temporarily stop working on-site at its operations in Santa Clara and Alameda counties until April 7.
Its Malaysian operations were also affected by the Malaysian government issuing an order to close some businesses between March 18 and March 31.
While these measures are strong, CEO Rob Mionis says the company must do its part to support global efforts to contain the novel coronavirus.
He says its efforts helped in China with more than 90% of its employees there now back at work.