TFS Announces Layoffs

John Wolz

Textron Fastening Systems laid off about 60 employees from its plant in Greenville, MI, the Associated Press reported. The Greenville plant produces custom-designed specialty threaded fasteners and engineered assemblies, primarily for the automotive industry.
“Declining automotive business conditions have made it necessary to reduce the Greenville plant”s workforce by one-third,” company spokesman Tim Weir told AP. “This is being done in response to lower order demand from the plant”s automotive customers in the wake of wide-scale vehicle production cuts by the industry this year.”
About 130 employees will remain at the facility, which laid off 146 workers in February.
“We are very sensitive to the concerns these layoffs will raise among our employees, their families, and the Greenville community,” Weir added. \ �2005 FastenerNews.com