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| PGT LAYS OFF ANOTHER 300 WORKERS |
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WENGNews writes, "WHILE MOST PEOPLE CONSIDER THE LAST TWO HURRICANE-FREE YEARS AS A BLESSING, WORKERS AT PGT INDUSTRIES IN VENICE SEE IT AS A WORK SLOWDOWN, AND THAT ALONG WITH THE SLUMPING HOUSING INDUSTRY HAS LED TO ANOTHER THREE HUNDRED EMPLOYEES BEING LET GO BY THE COMPANY. A COMPANY SPOKESPERSON SAID THE LAYOFFS COME FROM SENIOR MANAGEMENT TO THE PRODUCTION LINES, AND WITH THESE CUTBACKS, PGT HAS NOW REDUCED ITS WORKFORCE BY FORTY PERCENT SINCE PEAKING AT ABOUT 2500 WORKERS IN 2006. THERE ARE TWO PGT PRODUCTION PLANTS…THE ONE HERE IN VENICE AND THE OTHER IN SALISBURY, NORTH CAROLINA, BUT MOST OF THE CUTTING IS HAPPENING LOCALLY. PGT IS REPORTEDLY OFFERING SEVERANCE PACKAGES TO THE EMPLOYEES THAT THEY ARE LETTING GO OF, BUT DETAILS ARE BEING KEPT QUIET. PGT PRESIDENT AND CFO ROD HERSHBERGER SAID IN A STATEMENT THAT THEY’VE DONE EVERYTHING IN THEIR POWER TO MAINTAIN THEIR CURRENT WORK FORCE, BUT A $4 MILLION DOLLAR FOURTH QUARTER LOSS FORCED THEIR HAND."
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Posted on Mar 05, 2008 04:47am.
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