Vt. Castings lays off 30 workers
STAFF REPORT | August 12,2013
Vermont Castings Group laid off 100 workers immediately after the new ownership group took over the company this month.
Jess Baldwin, a management team member, said 100 of the company’s 750 workers were let go, including 30 workers at the Vermont Castings facilities in Bethel and Randolph. The company now has 120 workers in Vermont.
Other layoffs were made at its plants in Kentucky and Mexicali, Mexico.
“These were seasonal layoffs after we took over the company,” Baldwin said from company headquarters in Paris, Ky.
He said if business picks up in the fall, workers will be called back or new workers hired. “It’s the old law of supply and demand,” he said.
Baldwin said the company did not offer a severance package to the workers who lost their jobs.
Baldwin and several other managers purchased the wood stove and hearth company from The Riverside Company, a private equity firm.
No sale price was announced.