Tag

Factory Closure

All articles tagged with #factory closure

business1 year ago•1 min saved

Volkswagen Faces Major Strikes Amid German Auto Industry Crisis

Volkswagen workers in Germany have initiated a strike, the largest since 2018, in response to the company's plans to cut costs by closing three factories, reducing pay by 10%, and laying off thousands of employees. The union IG Metall, representing 120,000 VW workers, had proposed alternative cost-saving measures, which were rejected by VW management. The strike highlights tensions as VW faces challenges in the European and Chinese markets, alongside a global decline in electric vehicle demand.

via Ars Technica|

#business #factory-closure #germany

business1 year ago•3 min saved

Blommer Chocolate to Shut Down Chicago Factory

Blommer Chocolate is closing its 85-year-old downtown Chicago factory due to plummeting sales, increased maintenance costs, and production reliability issues. The closure is expected to improve the company's operating profit by $30 million a year. The parent company, Fuji Oil Holdings, cited extraordinary losses in the third quarter, largely due to the effects of the COVID-19 pandemic and rising costs. Blommer plans to invest $100 million in its remaining production facilities and expand its research and development capabilities at its North American corporate headquarters in Chicago.

via Chicago Tribune|

#blommer-chocolate #business #chicago

business1 year ago•3 min saved

"Blommer Chocolate Shutters Downtown Chicago Factory"

Blommer Chocolate is closing its 85-year-old downtown Chicago factory due to plummeting sales, increased maintenance costs, and production reliability issues. The closure is expected to improve the company's operating profit by $30 million a year. The parent company, Fuji Oil Holdings, cited extraordinary losses in the third quarter, partly due to the effects of the COVID-19 pandemic and rising costs. Blommer plans to invest $100 million in its remaining production facilities and expand its research and development capabilities at its North American corporate headquarters in Chicago.

via Chicago Tribune|

#blommer-chocolate #business #chicago

business1 year ago•1 min saved

Blommer Chocolate Shutting Down Chicago Factory

Blommer Chocolate Co. is set to close its Chicago factory at the end of May, resulting in the loss of 250 jobs, citing increasing costs of running its aging facility. The company plans to invest $100 million in its remaining production facilities in Pennsylvania, California, and Ontario, while maintaining its corporate headquarters, lab, and a new research and development center in downtown Chicago.

via Chicago Sun-Times|

#blommer-chocolate #business #chicago

business1 year ago•6 min saved

"Remington's Departure: The Impact on a Historic New York Gun-Making Village"

Remington, the nation's oldest gun-maker, is set to close its historic firearms factory in Ilion, New York, after 200 years, citing high operating costs and a more favorable environment in Georgia. The closure will have a significant impact on the blue-collar village, where generations of families have worked at the plant, and could result in a loss of nearly $1 million annually for the community. The move reflects a broader trend of firearms companies relocating to states with more supportive legislative environments, and while local officials hope to repurpose the site, the closure marks the end of an era for the small New York village.

via New York Post |

#business #factory-closure #firearms-industry

business2 years ago•1 min saved

Cherokee Co. Braces for BIC Plant Closure in Gaffney, SC

Marker factory BIC has announced the closure of its plant in Cherokee County, South Carolina, by the third quarter of 2024, resulting in the loss of around 60 jobs. The company plans to move its operations to larger factories in France and Mexico. While the closure is a sad day for the county, officials are working to provide support and transition affected employees to new job opportunities. Cherokee County has been successful in attracting new employers, such as Gaffney Bakery, which is expected to create 263 jobs paying around $19 to $20 per hour. The future of the building is uncertain, but there is demand for its 100,000 square foot space. BIC has assured that the decision was not based on the performance of the Gaffney workforce and will provide support to affected employees.

via WSPA 7News|

#bic #business #cherokee-county