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Thermoplastic Maker Spartech Cuts 350 JobsAssociated Press
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March 20, 2008
ST. LOUIS - The thermoplastics maker Spartech Corp. will cut 350 jobs as part of a restructuring plan.
The suburban St. Louis-based company said the cuts will amount to about 10 percent of the total work force and will include both manufacturing and office workers. The cuts were effective yesterday.
The company also plans to close its Mankato, Minn., sheet facility. That business will be relocated to other Spartech production facilities by August.
Chief Executive Myles Odaniell said the job cuts and plant closing will better position Spartech for the long term.
The company expects the moves will reduce operating expenses by $9 million in fiscal 2008 and $16 million annually after that.
http://columbiatribune.com/2008/Mar/20080320Busi003.asp
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