Tuesday, August 04, 2015
Current Weather
Loading Current Weather....
Published: Wednesday, 8/10/2005

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.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.