Terex Cranes, AWPs Announce Layoffs
Terex Aerial Work Platforms, Redmond, Wash., has announced a round of layoffs that will decrease its global workforce by approximately 6 percent. The 270 layoffs include both AWP and Utilities divisions of the company. In a statement, Terex AWP said it is “aligning its workforce in support of existing and future market opportunities.”
The statement continued: “Even in good times, our business is cyclical. Today, we face the twin challenges of a global economic slowdown combined with a near freeze in the credit markets. These challenges limit the ability of our customers in the construction, maintenance and other industries to order equipment. We are examining all aspects of our business, including cost control, compensation and the way we staff and support for various levels of production and growth. These adjustments will enable us to accomplish the work most essential to meet current market demands, while maintaining our ability to support future growth and opportunities. We value our team members at AWP and regret that we must take this action, which has proven necessary given the challenging business climate our industry is experiencing.”
Terex Cranes in Waverly, Iowa, will cut 84 members from its 175-person production team and 30 people from its 135-person office staff, Christy Purvis, Terex Cranes HR manager, confirmed.
Terex Corporation, Westport, Conn., announced a first-quarter loss in April.