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Article: Wyomissing, Pa.-Based Alloys Company Makes Cutbacks Due to Recession.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 15, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Tony Lucia, Reading Eagle, Pa. Knight Ridder/Tribune Business News
Feb. 15--Carpenter Technology Corp., Wyomissing, is not unique in having suffered through both the recession and the aftereffects of the Sept. 11 terrorist attacks.
But as one of the largest employers in Berks County, any downturn in its business is bound to ripple through the area's economy.
The firm has responded by laying off 290 workers, cutting its Reading work force to about 2,445, and becoming a more cost-effective producer, even as many of the sectors it supplies -- including aerospace, representing about 27 percent of the firm's business -- reduce orders, said ...