BREAKING NEWS Worthington to shut 3 plants, lay off 300

Dec 05, 2008 | 01:43 PM |

Steel processor and distributor Worthington Industries Inc. will reduce its work force by about 300 employees in the steel processing and metal framing business segments, or 4 percent of its total work force.

These actions are in addition to closings and 350 job cuts announced in late October, and follows a decision to write down $100 million in inventories, effective at the end of November (AMM, Dec. 4).

Worthington is letting go of 186 hourly and salaried employees in its steel processing business, or about 12 percent of the segment's work force. It is also reducing work schedules to better align with lower market demand. Employees are being asked to take unpaid time off, the Columbus, Ohio-based company said in a statement. ....

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