Matthews International Corp. (Nasdaq: MATW) has detailed plans to close its Richmond Casket Plant in Wayne County. In a notice to the state, the company says the closure is the result of restructuring and consolidation efforts and 122 employees will be laid off.
Matthews International originally announced the move in November, but specific details on the layoffs had not been made available. The closure is expected to be permanent and the first phase of layoffs is slated to begin in May, initially affecting 29 employees.
The company says it will be offering separation packages and extended benefits, career services and separation pay to full-time employees who are permanently separated as a result of the closure and who remain employed through their separation date. Some employees could be relocated within the company.
Matthews International says it will notify the state as additional layoff phases occur.