NEW MADRID -- The layoff of 89 hourly employees, effective at the end of their work shift today, was announced to Noranda Aluminum workers on Monday.
"The lay-offs result from the economic challenges facing the aluminum industry and specifically, Noranda, as we continuously look for ways to reduce our operating costs, improve our productivity and conserve our liquidity," Keith Gregston, president and general manager wrote in an e-mail. "Our management team is evaluating every aspect of our business and will take the actions necessary to support the short-term success and long-term sustainability of our company, so that we may continue to serve our customers, communities, co-workers and investors."
This is the second round of layoffs at the company in just over one month. Effective Nov. 1, 35 employees were terminated. All layoffs are determined by seniority
According to its Web site, Noranda's New Madrid operations directly employs 1,100 people with an annual payroll of approximately $60 million. The primary products plant there, which produces metal, was formed in 1968.