The St. Louis Regional Chamber announced today a restructuring plan that allows the organization to refocus on its core functions of a convener, advocate and champion of the bi-state St. Louis regional business community. The restructuring plan is a continuation of the Chamber’s two-year old transformation process which included the launch of AllianceSTL and the revamping of the Chamber’s online digital business resources. In the wake of COVID-19, many businesses are facing difficult decisions due to rapidly changing economic realities, including the Chamber. The restructuring plan will help ensure the Chamber’s financial stability but most importantly, continue to refocus its talent and resources on being the leading voice and advocate of the bi-state St. Louis regional business community.
As part of the plan, the following actions are taking place effective May 5, 2020:
- Seven Regional Chamber employees will be laid off (positions eliminated);
- Three open positions in our organization will be eliminated;
- Ten percent (10%) in overall non-personnel expenses will be reduced; and
- Most 2020 in-person group events will be cancelled.
“We are taking swift and decisive action not only to ensure our financial stability but to refocus on our core functions,” said Tom Chulick, St. Louis Regional Chamber President & CEO.
“These very difficult decisions are necessary to make sure we adapt and evolve to best serve the regional business community during this very challenging time – this crisis is an example of why Chambers of Commerce were created. During this tough economic reality we are focused on delivering resources and connecting businesses to what most matters to them.”
The Diverse Business Fellows and Diverse Business Accelerator programs will now operate under the St. Louis Regional Chamber Foundation’s umbrella but be led and supported by Chamber staff. These programs will not be eliminated.
The Regional Chamber’s core functions as the voice and key resource of the business community are to promote regional economic development through AllianceSTL; to serve as a business convener and resource; to advocate for business needs at the local, state and federal level; and to help communicate and market the region’s business strengths, trends and opportunities. As more business networking, resources and public policy discussions move online, the Regional Chamber has evolved to deliver online policy briefings and resource webinars to address the COVID-19 pandemic, business relief, recovery and sustainability.
The Regional Chamber is a partner with the STL Regional Business Recovery Initiative and will be leading working groups for key industry sectors to help inform business re-opening and recovery guidelines for regional public health officials. News and updates on the Initiative’s findings can be found at https://www.stlregionalchamber.com/recovery.