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Tipton Manufacturer Laying Off Workers

Thursday, June 3, 2021 11:26 AM EDT
By Mary Roberts, Writer/Reporter
Tipton Manufacturer Laying Off Workers (image courtesy of Steel Parts Manufacturing Inc.)

Tipton-based Steel Parts Manufacturing Inc. has notified the state it expects to lay off 107 employees. The company says the mass layoff is due to “unfavorable business circumstances beyond its control.”

The layoff is expected to affect hourly and salaried employees, and terminations are scheduled to take place during the first two weeks of August.

The layoffs are expected to be permanent.

The company says the affected employees do not have bumping rights.

Story Continues Below

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Helping Hoosier businesses build bigger: An often overlooked program can help

Helping Hoosier businesses build bigger: An often overlooked program can help

Experts are predicting that volatility in the economy will continue for the remainder of the year. Consumers are faced with inflation and fluctuating interest rates, with at least one more rate increase predicted to “cool off” the overheated economy. Businesses are also paying close attention to interest rates, especially entrepreneurs looking to launch or expand businesses....

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