Family firm with no layoffs in 75 years becomes a model for bosses (opens the source in a new tab)
- The WSJ profiles Gund Co., a St. Louis composite-materials maker founded by the CEO’s grandfather that has never laid anyone off and has averaged 18% annual growth for a decade.
- CEO Steve Gund’s people-first playbook: red cards on the factory floor flag problems, everyone has a development plan, financials are posted openly, and workers own part of the firm.
- It is not soft: Gund staffs lean to ride out slow patches and manages out those who don’t adapt. Leaders from many companies have visited; few copy it fully.
- 75 yrs
- without a single layoff
- 18%
- average annual growth over a decade
Why it matters In a year of AI-driven job cuts, Gund argues keeping people can be a growth strategy, not a cost. Its secret is discipline as much as kindness.
Other side A private family firm answers to no quarterly investors and can staff lean by choice. What works on a Midwest factory floor may not survive a deep downturn, a sale or an industry remade by AI.