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People & Business :: People/Executives
PolyOne Cuts Staff, Closes Compounds Plant
11:36 AM MST | January 16, 2009
PolyOne says it will cut about 370 jobs, 8% of its total workforce, and close its Niagara Falls, ON compounds facility to remain competitive “during a period of weakened demand.” PolyOne says it will also implement reduced work schedules for another 100-300 employees, freeze executive salaries for the year, and idle some capacity. These moves are in addition to job cuts and plant closures announced last year (CW, Aug. 4, 2008, p. 7). The company had positioned itself at that time for a slowdown that was principally U.S.-based, says Stephen Newlin...
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