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RECESSION WATCH: Ravenswood Plant Scuttles 160, Patriot Coal Eliminates 400, Dow Slashes 60 |
| (01/22/2009) |
| RAVENSWOOD PLANT SCUTTLES 160 WORKERS - After the bad news from Century Aluminum, Alcan has announced that 140 permanent and 28 part-time employees will be laid off at its facility in Jackson County. Alcan said employees who would be affected work within Alcan Global Aerospace, Transportation and Industry (ATI) part of Alcan Engineered Products. "These measures, while extremely difficult, are necessary for the Ravenswood facility to maintain our competitive position during this severe economic downturn. They will ensure that it's better positioned to get through the crisis and bounce back quickly once the market recovers," Steve Abelman, president and chief executive officer of Alcan Ravenswood, said in the statement. One of the functions of Alcan Global ATI is manufacturing aluminum for aircraft. DOW ELIMINATES 60 JOBS - Dow Chemical officials say the company is eliminating about 60 jobs at its South Charleston facility. All of the employees will receive a severance package. One of the largest chemical makers in the world, Dow announced last month it would slash 5,000 full-time jobs by closing 20 plants and selling several businesses. That's about 11 percent of its work force. USA aluminum is trying to compete with low globalized costs of production. PATRIOT ELIMINATES 400 JOBS - Patriot Coal plans to eliminate 400 jobs by idling more West Virginia mines. St. Louis, Missouri-based Patriot blamed high costs for idling its three-mine Remington complex in Kanawha County yesterday. The company says weak demand for coking coal from the struggling steel industry is behind the idling of its Black Oak mine after less than seven months in operation. Patriot also is cutting operations at a prep plant. Patriot had planned to produce 900,000 tons of coking coal from the Boone County mine this year. Earlier this month, Patriot said it would close the Jupiter Complex in Boone County and lay off about 100 workers by mid-March.
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