May 12, 1998 |
For years, Sunbeam Chairman "Chainsaw" Al Dunlap has been working from the same script: Move into a company, announce mass firings and watch the company's stock soar. That strategy worked for the 60-year-old Dunlap--until this week. On Monday, Sunbeam's battered stock dropped $2.06, or 7.4%, to $25.75, near its lowest level in a year, after officials reported a first-quarter loss and plans to close eight plants and fire about 6,000 more workers.
September 10, 1992 |
Apple Computer on Wednesday said it would close its only factory in the Silicon Valley area and lay off 345 employees as part of a worldwide reorganization of its manufacturing and distribution operations. The unexpected shuttering of the facility in Fremont, Calif.--which Apple had touted just two years ago as a showpiece of automated production--is the latest setback for recession-ravaged Silicon Valley.
August 24, 1990 |
A&E Systems, a recreational vehicle awning and equipment manufacturer that in May employed 400 people in Orange County, will close its plant here by the end of the month in part because of strict regional air pollution regulations. The company has been gradually laying off workers in the past three months and fewer than 50 workers remain at the plant. Manufacturing at the facility, which is up for lease, ceased Aug. 10. Company officials would not comment on the closing.
September 8, 1995 |
Brown Group Plans to Close Plants, Cut 2,400 Jobs: The St. Louis-based shoe company reported a second-quarter net loss of $8.4 million, or 48 cents a share, down from a profit of $7.4 million, or 42 cents a share, for the quarter last year. Revenue declined to $342.9 million from $353 million. The loss includes a $9.6-million, or 55 cent a share, after-tax charge to cover the cost of factory closings. The plants to be closed are in Cabool and Steelville, Mo.; Dyer and Lexington, Tenn.
February 14, 1997 |
Thomson Consumer Electronics, the nation's largest maker of televisions, said it will cut more than 1,500 jobs from two U.S. factories and move the work to Mexico, where labor is cheaper. With the factory closings, the company will effectively get out of the U.S. TV-assembly business. It will remain a maker of TV parts. Thomson, which makes RCA, GE and ProScan TV sets, plans to shut its Bloomington, Ind., plant, which employs 1,100 people.
May 18, 1996 |
Hunt-Wesson Inc. said Friday that it will close its historic Hunt Foods tomato processing plant in Fullerton, one of Southern California's largest remaining food canneries, laying off 325 full-time workers and eliminating 450 seasonal canning jobs. The 62-year-old Fullerton plant was the late billionaire Norton Simon's first food-processing business, which he grew into the multibillion-dollar Hunt-Wesson powerhouse.