19 February 1998: The US composites and building products producer Owens-Corning is to reduce staffing levels by 9% of their total workforce in 1998, while the group will also be closing a plant in Qu…
19 February 1998: The US composites and building products producer Owens-Corning is to reduce staffing levels by 9% of their total workforce in 1998, while the group will also be closing a plant in Quebec, Canada, and reducing the activity at two European plants, one each in Belgium and Norway. The cost of the exercise is estimated at US$ 250 million, including US$ 140 million in the fourth-quarter of 1997. Economies are to supposedly be in the range of US$ 100 million in 1998, US$ 75 million in 1999 and US$ 175 million per year thereafter.