TORONTO - TIMET will be laying off 77 workers beginning next week, according to a union official.
TIMET, which is now referred to as TIMET of Precision Castparts Corp., will lay off 77 of 527 workers because of a slowdown in business, according to Greg Herrick, president of the United Steel Workers Local 5644/5644-01. "(The layoffs will occur) basically because order books are really soft for the first and second (fiscal) quarters," said Herrick. "It's mostly junior (union) members being laid off."
Herrick said it wasn't clear when workers could be recalled because of the slowdown in demand for titanium alloy.
"I'm not sure what's going on at Boeing Corp.," Herrick continued, adding the airplane manufacturer is one of TIMETS's biggest customers. "I just know our orders are down."
Herrick said the union's contract with the company will enable more veteran workers to retain their health care benefits for a time.
"Any of the employees that have at least two years (employment at TIMET) will get six months of health insurance," Herrick continued, adding those with less than two years with the company won't see the benefits continuing after next week.
Herrick said he's hoping orders pick up and workers won't be laid off for long.
"Obviously, we want to do everything possible to get these guys back to work," Herrick said. "We're hoping with PCC taking over, (the company) can get us more work."
Precision Castparts Corp. of Portland, Ore., recently took over the company.