4/7/2009
NEWS BRIEFS
Lawson Cuts 150 Jobs, Closes Dallas Facility
Looking to cut costs, Lawson Products said it would layoff 150 employees – about 11% of its overall workforce, according to SEC documents.
Likewise, Lawson is closing its MRO distribution center in Dallas, TX, which is expected to be shuttered by the end of the second quarter. Lawson will incur a charge of $5.5 million to $7 million.
Coupled with the closing of its distribution facility in Charlotte, NC, the job cuts and facility consolidation are expected to save the company between $10 million and $12 million annually.
As of December 31, 2008, Lawson employed approximately 1,350 full-time workers, including 340 sales and marketing employees, 760 operations and distribution employees and 250 management and administrative staff.
Lawson reported sales dropped 5% to $485.2 million during 2008, with a net loss of $27.6 million.
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