Tower Automotive Announces Layoff
October 3, 2000
Tower Automotive is phasing out its heavy truck rail manufacturing in Milwaukee by March as it focuses on its light vehicle and modules business.
According to published reports, the company will lay off 300 people, the second major cutback at the Milwaukee-based plant this year. It is also closing its stamping operation in Kalamazoo, Mich.
The company warned that its third-quarter earnings would fall short of Wall Street estimates.
Dave Rutila, who oversees the plant, said the phasing out of the heavy-truck line would begin in December.