Layoffs affecting East Tennessee
Friday January 09, 2009
Alcoa to lay-off 450 workers
MARYVILLE - Alcoa announced that they are stopping 2 production lines. The production cuts will idle about 450 workers in Alcoa, the company said, and about 13,500 worldwide, or about 13 percent of its global work force, and slash its aluminum production by 18 percent.
The Pittsburgh-based manufacturer hopes the reduction strategy will save $450 million per year. The company has about $30 billion in annual revenues.
The Blount County production lines being halted take ore and smelt it into molten metal in what are known as "pot rooms."
Because of the nature of the work, the operation has to run 24 hours a day, Beasley said. It is dangerous work that requires about 150 people to run both lines for an 8-hour shift.
Alcoa is the second largest employer in Blount County behind Denso, and the 450 layoffs represent about a third of Alcoa's workforce.
http://www.knoxnews.com/news/2009/jan/08/extent-of-layoffs-shocked-top-alcoa-union/
Goody's shutting doors after 55 years in business
KNOXVILLE - Knoxville-based Goody's Family Clothing, which emerged from bankruptcy less than three months ago, is shutting its doors after failing to secure sufficient capital to keep the business operating.
Goody's was founded in 1953 by the Goodfriend family. It grew to more than 300 stores operating primarily in the South and Midwest. The business became a privately held company when it was sold in January 2006 to GMM Capital and Prentice Capital. It is currently owned by PGDYS Lending LLC; Prentice Capital Management.
Goody's has about 9,800 employees and annual revenues of $800 million,
http://www.knoxnews.com/news/2009/jan/07/economic-whammy/
Sea Ray plant closing; 575 jobs being cut
KNOXVILLE - Brunswick Corp. is closing its Riverview boat manufacturing plant in the Forks of the River Industrial Park in East Knox County the company said today.
The plant will stop making Sea Ray boats in the first quarter with production moved to other Brunswick plants in Knoxville and Vonore, TN., the company said. About 300 jobs will be eliminated when the plant closes, although the company will try to move as many employees as possible to jobs at other Sea Ray Plants.
The company also plans to cut an additional 275 jobs "throughout Sea Ray manufacturing and product development facilities as well as at Sea Ray's Knoxville headquarters by Friday."
"We have taken a number of actions over the past few years in an effort to mitigate persistent difficult conditions in the global marine market and economy," Brunswick Chairman and Chief Executive Officer Dustan E. McCoy said in a statement. "The global marine market remains in a severe downturn because of the weakening economies here and abroad and anxious consumer sentiment. These conditions have led to the difficult decision to mothball the Riverview facility."
http://www.knoxnews.com/news/2009/jan/06/sea-ray-plant-closing-least-275-jobs-being-cut/
Number of layoffs unknown in Jewelry Television's latest cuts
KNOXVILLE - Knoxville-based home shopping network Jewelry Television began a new round of layoffs Wednesday as a result of poor holiday sales and a weak economy.
Spokeswoman Kelly Fletcher could not confirm how many employees would be affected, but said they likely would be from all departments. Employees will be notified through Friday but downsizing may continue until sales improve, she said.
"We're in a cost-cutting mode. There is no change in the company status. We're not filing for bankruptcy," Fletcher said.
Jewelry Television at one point employed up to 2,000 workers but that was down to about 1,300 employees before Wednesday's layoff announcement.
The company has gone through several rounds of layoffs in the last year, reducing its work force in Knoxville and Nashville.
Electronic retailer ShopNBC also announced Wednesday it was reducing its workforce by approximately 11 percent, effective immediately. The announcement, which is part of an organizational restructuring to reduce expenses, represents a total reduction in salaried employees of 27 percent since fiscal 2007.
http://www.knoxnews.com/news/2009/jan/08/jewelry-television-to-cut/
ImagePoint to sell business units
The economy has taken its toll on another Knoxville area company. ImagePoint Inc. said today it will close its sales and manufacturing operations and seek a buyer "for strategic parts of its business."
The shutdown is immediate and "will include termination of the company's 450 employees."
ImagePoint makes sign and image products.
"The automotive and restaurant businesses are facing serious challenges," ImagePoint CEO Jim Martin said in a statement. "And these industries represent a major part of ImagePoint's business."
http://www.knoxnews.com/news/2009/jan/09/imagepoint-sell-business-cuts-450-jobs/
Source: Knoxville News Sentinel
