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USA - Grede slashes 140 jobs

Grede Foundries announced Wednesday that it is laying off approximately 140 employees at its Reedsburg plant, which is nearly 25 percent of its workforce.

Two cuts of about 25 employees and an additional 90 employees were laid off at the Reedsburg plant during the spring and summer of 2008, respectively. The plant came into 2008 as the second-largest public employer in Sauk County at 865, behind only Lands' End.

The company blamed the layoffs on the "dramatic economic recession," especially the segments being served by Grede, the automotive industry and lawn and garden market.

"Our main customers are General Motors, Chrysler, Ford, Honda and Toyota," Dale Herritz, interim manager of the Reedsburg plant, said. As these companies continue to struggle, the demand for products manufactured by foundries has diminished.

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