Approximately 64 workers at Foster Needle in Manitowoc will lose their jobs. The parent company, Groz-Beckert Group announced the 60 year old manufacturing facility was ending all production operation on June 1st.
"This was a difficult decision," Miroslav Svejda, Senior VP of Groz-Beckert explained. "But the competition has intensified and the market growth has dropped significantly in recent years. While we will be closing the doors permanently, we have respect and gratitude for the work that has been carried out at this facility."
The shutdown will occur in two phases starting with Wednesday's end of production. 52 workers will be paid until July 31st.
Nearly 10 other employees will continue work between July 31st and December of 2016. Two others will stay on through part of 2017.
The company thanked its employees saying severance packages and advisory services will be in place to, "help everyone get back on the road of employment."
