The steel-processing company, Worthington Industries, will close plants in Kentucky and Washington, eliminate 300 jobs, and streamline additional costs through efficient work schedules and no overtime. No jobs will be lost in Ohio where the company is based. The cutbacks signal the firm's expectation of fewer sales given economic conditions, and an effort to cut costs in advance of financial troubles since quarterly sales and profit were actually a record-high last month. The firm expects to save $13 million annually from the cutbacks.
See "Worthington Industries to shut 2 plants, cut 300 jobs", Dan Gearino, The Columbus Dispatch, October 23, 2008