.

Hazelwood Layoffs: GT Advanced Technologies Restructures, Lets Go 35 Employees

The company is looking to sell its Hazelwood manufacturing plant, which it acquired from Confluence Solar in 2011.

GT Advanced Technologies (GT) is idling a manufacturing plant in the City of Hazelwood and laying off 35 employees. 

This is part of a restructuring of the company with streamlining of operations, according to a company statement, with the hopes of positioning the company for growth once the markets it serves start to recover.

The New Hampshire-based company said it's shifting its pilot development plant operations currently located in Hazelwood to an existing facility in Merrimack, N.H. It will idle the Hazelwood facility until it can find a "strategic partner" to purchase it, the company said.

"The new functional structure reflects GT's continued efforts to streamline our operations and align our business with current market and business conditions," president and CEO Tom Gutierrez said. "It further minimizes duplication of resources and provides us with a very efficient platform to grow from in 2013."

The company estimates the idling of the facility will reduce its yearly expenses by approximately $15 million, excluding restructuring charges.

All furloughed employees will be provided severance pay, health and dental benefits and outplacement services, according to GT.

GT's pilot plant in Hazelwood produces materials for solar panels. GT acquired the Hazelwood business from Confluence Solar in 2011. It is located on Park 370 behind St. Louis Outlet Mall.

Ashley January 11, 2013 at 04:00 PM
Well this sucks. Was the economy not how it is now two years ago when they bought it? If anything it was probably worse. I feel for those losing their jobs. And right after Christmas at that so hiring is slower now anyway. Good luck guys and gals.
Candace Jarrett January 11, 2013 at 04:18 PM
It's very unfortunate. Here's to hoping they don't have too much down time.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something