At least 100 HPA Monon employees have been laid off due to slow demand blamed on high gasoline prices. As many as 400 workers employed by the Monon, Ind.-based trailer manufacturer have received pink slips, union officials told the Associated Press.
An industry-wide slump forced the layoffs Friday at the 1,100-employee plant, said Larry Thomas, chief operating officer. He said freight haulers have held off buying new trailers because they are struggling with high fuel prices and recent interest rate hikes.
The layoffs, which only affect the company's dry freight van trailer division, are the first since an investment group reopened the plant three years ago. The layoffs begin July 10, when employees return after the weeklong plant shutdown that began Friday.
An industry-wide slump forced the layoffs Friday at the 1,100-employee plant, said Larry Thomas, chief operating officer. He said freight haulers have held off buying new trailers because they are struggling with high fuel prices and recent interest rate hikes.
The layoffs, which only affect the company's dry freight van trailer division, are the first since an investment group reopened the plant three years ago. The layoffs begin July 10, when employees return after the weeklong plant shutdown that began Friday.
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