Maytag recalling 80 workers to meet Neptune front-load washer demand

Maytag recalling 80 workers to meet Neptune front-load washer demand
 
Date May 04, 2005
Section(s) Local News
Brief  
 
NEWTON (AP) — For the first time in nearly a year, Maytag is recalling a significant number of production workers at its washer-and-dryer plant in its hometown.

About 80 laid-off workers are being recalled next week because of increased production of the front-loading Neptune washer, Ted Johnson, president of United Auto Workers Local 997, Tuesday.

Maytag spokesman John Daggett said additional workers are needed to meet current and near-term demand in the marketplace.

The recall will boost the active production workforce in Newton to about 1,355.

Meanwhile, the company’s nose-diving stock had an up day on Wall Street.

In trading Tuesday, Maytag shares closed at $9.97, up 40 cents, or about 4 percent , from Monday’s close of $9.57. It was up another 45 cents to $10.42 at 10 a.m. today.

The closing price Monday was the low point in the stock’s recent slide, which began April 22 when the company announced lower first-quarter sales and earnings and said it was planning yet another restructuring. The news increased concern about the Newton plant’s future.

Maytag shares had been trading at about $15 on the day before the announcement.

Local, state and federal lawmakers and development officials will meet with Maytag representatives on Friday to discuss the future of operatiions in Newton and Iowa. Rep. Leonard Boswell, D-Iowa, put the meeting together to discuss what efforts might be taken to help Maytag‘s business.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: