Thursday, Apr 19, 2018
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Libbey says layoffs save $4.5 million



Libbey Inc. has laid off about 80 salaried employees nationwide

this year as the Toledo tableware company reduced its white-collar ranks by more than 10 percent, saving $4.5 million a

year, the company has revealed.

In an U.S. Securities and Exchange Commission document

filed yesterday, Libbey gave the number of salaried positions

it has eliminated this year, a number it previously declined

to disclose.

Also, the company said it will spend about $46 million to build

a glassware factory in China expected to open in early 2007.

That total includes $2.9 million to procure land use rights and

rebuild machinery and equipment, it said.

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