A Letter from Sam Malouf, CEO

This week, I shared some difficult changes with our employees. Not unlike many companies in Utah and beyond, Malouf first experienced rapid growth, and more recently, market shifts and changing demand. The entire company worked hard to address those changes, but unfortunately, so much was out of our control.

We have made the very difficult decision to reduce the workforce at corporate headquarters and cut exploratory projects, building on our restructure from November 2022. As CEO, I take responsibility for the decisions that got us here. The decision was made to reduce operating expenses and focus on our core business. We regret this action needed to be taken, but I believe it puts us in the strongest position moving forward.

I want to be clear—this decision is not a reflection of the great work from the employees leaving us. They are talented and passionate and have made an important impact on our company and community.

Kacie and I are incredibly grateful to everyone who has gotten Malouf to where it is today, and for those who will continue forging our new path forward. Thank you for the kindness, hard work, and dedication you demonstrate for Malouf, and our customers and partners, every day.

Sam Malouf

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