The Timken Company (USA;
NYSE:
TKR; 5251R9N7)
has put the remainder of its Gambrinus Bearing factory workers on layoff,
and bearing production there has stopped.
It is unclear how long the layoffs might last, or if the Gambrinus Bearing Plant
will ever resume operations. Approximately 40 people are affected by the layoff; a skeleton staff
remains for non-manufacturing functions.
Opened in 1928, Gambrinus Bearing has been under the gun since Timken announced the Canton Industrial Bearing Complex's
three plants would cease operations due to their age, labor cost structure, inefficient layout, and competitive pressures
for their products. Canton Industrial Bearing was closed, but the two Gambrinus plants -- Gambrinus Roller
and Gambrinus Bearing, remained open. However, the manufacturing recession reduced demand to the point
where Gambrinus Bearing has now stopped making bearings entirely.
Gambrinus Roller, which manufactures industrial bearings, remains operating, with approximately 200 workers.
In 2004, the Complex had approximately 1,100 workers. Since then, approximately 500 transferred to jobs in Timken's
steel operations. Another 250 retired or left the company.
Timken said in early 2008, due to economic pressures, it would be cutting
a quarter of its workforce. Approximately 7,000 workers, are expected to be released by the end of 2009.