Superior Industries announces closing of Johnson City metalcasting facility.Superior Industries International Inc., Van Nuys, Calif., is closing its manufacturing facility in Johnson City Johnson City. 1 Village (1990 pop. 16,890), Broome co., S N.Y., in a tricity area including Endicott and Binghamton; inc. 1892. It has been noted for its Endicott-Johnson shoes. , Tenn., which will result in a layoff Layoff 1. When a company eliminates jobs regardless of how good the employees' performance. 2. A risk reduction, made by investment bankers, that minimizes the potential downside associated with a commitment to purchase and sell a stock issue unsubscribed by stockholders holding of approximately 500 employees. "This is the latest step in our program to rationalize ra·tion·al·ize v. 1. To make rational. 2. To devise self-satisfying but false or inconsistent reasons for one's behavior, especially as an unconscious defense mechanism through which irrational acts or feelings are made to appear our production capacity to more effectively balance plant utilization and costs against our customers' changing requirements for pricing, wheel size, design, scheduling and volume," said President and Chief Executive Officer Steven Borick. "All existing customer programs will be transferred to Superior's other manufacturing plants. However, recent Big 3 Automakers announcements of sweeping production cuts, particularly in Superior's important light trucks and SUV platforms, have reduced Superior's requirements for the near future." The company expects to incur severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when and other costs related to the layoffs of approximately $1 million over the following six months. |
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