Thomaston Mills To Cut 700 Jobs
THOMASTON, Ga. (AP) _ Thomaston Mills Inc. plans to cut 700 jobs, including 145 in Zebulon, Ga., in a restructuring announced Friday.
Neil H. Hightower, president and chief executive officer, said the changes, effective Sept. 1, will enable the company ``to better focus on those markets deemed most profitable.″
Thomaston Mills will concentrate on the home furnishings and piece-dyed markets, while getting out of the industrial, sales yarn and denim markets.
Hightower said the decision on markets was ``necessary due to the continued influx of imports into our domestic markets and the uncertainties relative to the Asian financial crisis and the World Trade Organization.″
The Thomaston, Ga.-based company employes 2,350 people, though it is unclear how many of the job cuts will results in layoffs. Job cuts will also occur in the company’s New York and Los Angeles sales offices.