Fruit of the Loom Closes KY Plant, 600 Lose Jobs

The company is moving its plant's textile operations to Honduras

   

Fruit of the Loom Closes KY Plant, 600 Lose Jobs

Fruit of the Loom (BRK.A) is closing down its Jamestown, KY plant, eliminating over 600 jobs.

FruitoftheLoom Fruit of the Loom Closes KY Plant, 600 Lose JobsThe company is planning on taking the plant’s textile operations to Honduras. The Fruit of the Loom plant has 601 workers who will lose their jobs from June 8 through December 31 as the plant will close in phases.

Fruit of the Loom is giving employees a 60-day notice before terminating their jobs. The company has notified state and local officials “to provide any available assistance” to the workers who will soon be unemployed.

The move will help Fruit of the Loom “align its global supply chain to allow the company to leverage existing investments and meet customer requirements more timely and cost effectively,” according to a statement.

BRK.A stock is down about 0.3% Friday.


Article printed from InvestorPlace Media, http://investorplace.com/2014/04/fruit-of-the-loom-brk-a-stock/.

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