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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Arrow Electronics planned to eliminate an additional 1,000 jobs, close some facilities and reduce other operating costs, according to an EE Times report published July 24, 2001. The announcement came as Arrow’s electronic-components business weakened, despite stronger computer-product sales helping the company exceed second-quarter earnings expectations.
What Arrow announced
EE Times reported that Arrow planned an additional 1,000 job cuts, facility closures and other cost reductions. The report did not identify which sites would close or specify the geographic distribution and timing of all affected roles. Arrow’s then-president and CEO, Francis Scricco, said the actions were intended to size the company to its current level of business.
Read the July 24, 2001 EE Times report.
Why the company said it was cutting costs
The report described a split picture in Arrow’s business: computer-product sales were stronger than expected, but its electronic-components business was deteriorating. Scricco said equipment makers and contract manufacturers, particularly in communications and networking, were ordering less while working through their inventories of components and finished products.
EE Times also connected the cuts to higher selling, general and administrative (SG&A) expenses relative to sales. The company’s reported SG&A ratio was 11.9% of sales in the second quarter of 2001, compared with 9.1% in the year-earlier quarter.
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Arrow’s reported second-quarter 2001 results
The financial figures below are historical numbers reported by EE Times in July 2001; they are not current Arrow performance measures.
| Measure | Second quarter 2001 | Second quarter 2000 |
|---|---|---|
| Net income | $7 million | $84 million |
| Revenue | $2.5 billion | $3.2 billion |
| Gross margin | Approximately 16% | Not stated in the EE Times report |
| SG&A as a share of sales | 11.9% | 9.1% |
Although the article said second-quarter earnings exceeded expectations, it also reported sharply lower net income and revenue than in the year-earlier quarter. The stronger computer-product sales did not reverse the deterioration in components.
What savings and other actions were expected
Arrow expected the reductions to lower expenses by $100 million and anticipated a one-time reorganization charge in the third quarter of 2001. These were forecasts reported at the time, not evidence that the savings were ultimately achieved. EE Times also said Arrow was reviewing its Internet investments and might reduce the unit’s book value; the report framed that as a possibility, not a completed write-down.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How this differs from Arrow’s 2024 efficiency plan
Arrow later announced a separate Operating Expense Efficiency Plan on October 31, 2024. Its 2024 Form 10-K describes initiatives including reorganizing and centralizing operations, improving warehouse and logistics processes, investing in IT automation, consolidating real estate, reducing third-party spending and winding down certain non-core businesses. The filing said the plan was expected to be substantially completed by fiscal year-end 2026, subject to local legal and consultation requirements.
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1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsThe 2024 filing estimated $185 million in pre-tax restructuring charges and annual operating-expense savings of approximately $90 million to $100 million by the end of fiscal 2026. Those estimates concern the later plan, not the 2001 workforce and facility announcement. Arrow’s 2024 Form 10-K filed with the SEC in 2025.
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