Joy Global (NYSE:JOY) is announced a indefinite closure at a heavy fabrication and welding plant in Wisconsin.
About 100 works will be impacted. Joy Global blamed the layoffs on challenging conditions. Plant closure will begin Nov. 30 and the layoffs are currently indefinite.
United Steelworkers Local 1114 President Chris Chappelle said members are reeling from the announcement.
“It was kind of like a gut punch. I think most of them were shocked,” Chappelle told WISN.
Joy Global also dropped from the S&P 500 today. It will be joining the S&P MidCap 400.
Verisk Analytics Inc. will take Joy Global’s place on the S&P 500. Verisk provides information about risk to professionals in insurance, healthcare, financial services, government, supply chain, and risk management.
3 Comments
Trump is my president
The slow train wreck of the feds economic collapse continues
Bonita Coffee
Will someone please define “Challenging Conditions”. Is this college boy newspeak for “the EPA bureaucrats are excellent at killing the coal industry”?
Gene Byrge
Obama is an avowed Socialist. He wants to replace our Republic with a Socialist State. He will do everything he can to break down our present society, bankrupt it, and all the while proclaim his patriotism. A true Machiavellian.