NEW YORK Alter Trading Corp. has laid off up to 40 employees at a Milwaukee facility it acquired last year.
The St. Louis-based metal recycling company told AMM it restructured operations at Miller Compressing Co. to increase efficiencies and better align the operation with its other facilities in Wisconsin.
"The actions that have been taken at Miller Compressing are in line with the organizations strategy for aligning Miller Compressing to the rest of Alter Tradings operations," Andrew Cole, senior vice president of human resource and organization development at Goldstein Group Inc., told AMM Nov. 1. Alter Trading is a wholly owned subsidiary of Bettendorf, Iowa-based Goldstein Group.
"We want to bring it to a stage where its increasing efficiencies and returning to profitability," he said.
Fewer than 40 employees were affected by the layoffs, which included both hourlies and salaried personnel across the ranks, according to Cole, who said the reduced work force will have no impact on the volumes processed at the facility.
"Its a response to the market conditions that we have been working with for the last 12 months, during which the market has not been necessarily wonderful," Cole said.
"The number of people affected is a combination of layoffs and some retirements. It in no way affects our ability to get material through the facility. There have been changes in how we go about processing material at Miller Compressing to improve efficiencies and better align it with the other facilities we have in Wisconsin," he said.
Miller Compressing, the largest recycler in Wisconsin, has more than 125 years experience in the industry, Alter Trading said when it acquired the company last year (amm.com, Sept. 28, 2012).
Alter Trading operates 16 processing locations in Wisconsin including Miller Compressing and 43 metals recycling facilities in the United States.