CPFilms Lays Off an Additional 45February 17th, 2009 by Editor
CPFilms recently announced the layoff off approximately 45 employees at its Martinsville, Va.-based manufacturing facility. This represents the second of such layoffs in recent times for the Solutia-owned manufacturer. In January the Martinsville facility laid off the same number, the first layoffs since the company’s last cutback, when it let 39 go from the same facility. In January, company officials pointed to market demands and most recently cited changes in the “current global economic environment” as cause. The company cited a downturn in demands pertaining to the automotive, housing and commercial construction markets and says it is simply aligning production and inventories with demand trends.
Affected employees will receive severance packages, including extended health benefits, and a CPFilms official says the company plans to work with the surrounding community to aid in a best possible transition. The Martinsville facility continues to employ approximately four hundred.