Vuzix Named to Newsweek's Top 100 Most Loved Workplaces For 2021

ROCHESTER, N.Y., Oct. 28, 2021 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, is pleased to report that Newsweek has included Vuzix in their 2021 list for Most Loved Workplaces, which ranks the top 100 companies as part of a collaboration with the Best Practice Institute (BPI), a development center and think tank. Vuzix, which was ranked #91 on the list, was the smallest company to be included in terms of employee headcount. Factors cited for inclusion included the Company's patent incentive program and stock options.

The results were determined after surveying more than 800,000 employees from businesses with workforces varying in size from 50 to more than 10,000. The list pays tribute to companies that put respect, caring and appreciation for their employees at the center of their business model and, in doing so, have earned the loyalty and respect of the people who work for them. 

Five key areas were measured to gauge employee sentiment: the level of collaboration at the firm; how positive workers are about their future at the company; how much employer values align with employee values; respect at all levels; and career achievement. Given the many challenges that arose from COVID-19, the survey also included company responses and adaptability to the pandemic, like return-to-office rules; workplace diversity, equity and inclusion; as well as compensation and benefits policies and practices.

To identify the top 100 companies for the Newsweek ranking, companies were evaluated and scored as follows: 35 percent of the initial score was based on employee survey responses; 25 percent was derived from analysis of external public ratings from sites such as Comparably, Careerbliss, Glassdoor, Indeed and Google; and 40 percent came from direct interviews with and written responses from company officials. Newsweek then conducted additional research into every company on the list, as well as the top runners up, to determine the final list of 100 companies and their ranking. The list includes both U.S. firms and companies with a strong U.S. presence that are based overseas.

The full Newsweek list of 2021's Most Loved Workplaces will be featured in the magazine's October 29 print edition and is currently available online at https://www.newsweek.com/americas-most-loved-workplaces-2021. Also, Vuzix CEO Paul Travers will participate in a live webcast interview with Most Loved Workplaces on November 4, details of which will be posted on Vuzix' social media sites.

"In the wake of the pandemic, business hit hurdles in terms of retaining and attracting employees – but the companies that made this list are delivering the respect, care, and appreciation that it takes to create a positive workplace that nurtures talent," said Nancy Cooper, Global Editor in Chief, Newsweek.

"The best way to determine the strength of a company's culture is by measuring the degree of love employees feel for their workplace," said Louis Carter, CEO and Founder of Best Practice Institute and Most Loved Workplace.

"Vuzix has some of the best workers in the world at every level and we are honored to be recognized for the high level of teamwork, camaraderie and employee satisfaction we know exists within our company," said Paul Travers, President and CEO of Vuzix. "Everyone at Vuzix is vested in our goal to be a dominant product and technology leader in what is widely expected to become a multi-billion-dollar industry for AR/smart glasses and related solutions."

About Vuzix Corporation

Vuzix is a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 210 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2021 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan.  For more information, visit the Vuzix website,  Twitter and Facebook pages.

About Newsweek

Newsweek is the modern global digital news organization built around the iconic, over 85-year-old American magazine. Newsweek reaches 100 million people each month with its thought-provoking news, opinion, images, graphics, and video delivered across a dozen print and digital platforms. Headquartered in New York City, Newsweek also publishes international editions in EMEA and Asia.

About Best Practice Institute

Best Practice Institute is an award-winning leadership and organization development center, benchmark research company, think tank, and solutions provider. BPI is the certifying body for Most Loved Workplace® and conducted the original research to create the model and criteria for becoming a Most Loved Workplace®. BPI's research proves that Most Loved Workplaces produce 3-4 times better customer service, employee performance, and retention than companies not loved by their employees. 

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to Vuzix Smart Glasses and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Vuzix Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations,
Vuzix Corporation
ed_mcgregor@vuzix.com  
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com  www.vuzix.com

 

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SOURCE Vuzix Corporation