By Carol Pipes

NASHVILLE, Tenn. — LifeWay Christian Resources is implementing a series of budgetary freezes, cutbacks and staff reductions in response to the economic crisis resulting from the ongoing COVID-19 pandemic.

LifeWay CEO Ben Mandrell cited a steep and steady decline of sales since mid-March, as well as uncertainty in the ability to host camps and events this summer as reasons for the actions LifeWay is taking.

“LifeWay stands to lose tens of millions of dollars of revenue that the organization would normally generate over the summer months from camps, events, VBS and ongoing curriculum sales,” Mandrell said. “LifeWay is mitigating these losses as much as possible through various expense reduction plans, including staff reductions and cuts in non-employee expenses. Additionally, LifeWay will likely have to use money from its reserves to cover a portion of the lost revenue.” [Read more…]