Today is the final day of production at Wisconsin-based Rexnord Corp.’s (NYSE: RXN) Indianapolis plant. Dozens of employees are working their final day today, as a result of the company moving work to Mexico and laying off more than 300 employees.
The company first announced plans to close the plant, which makes bearings for the automotive, industrial and agriculture sectors, in October. At the time, Chuck Jones, who was then United Steelworkers Local 1999 President, called the move the result of "corporate greed and unfair trade." Jones told Inside INdiana Business in an October interview that he was angry, but not surprised, adding that the company moved operations from its Clinton, Tennessee facility to Mexico earlier that year.
In December, the union reached an agreement with the company regarding severance packages for affected employees. In addition to financial payments, Rexnord agreed to continue offering tuition reimbursement through the end of the year and offer financial planning to employees. Earlier this year, the U.S. Department of Labor approved federal assistance for impacted workers.