Report: LM Wind Power to Cut 234 Jobs in Little Rock - Innovate Arkansas
Report: LM Wind Power to Cut 234 Jobs in Little Rock
By Arkansas Business Staff, 8/3/2012 7:36:57 AM
Danish windblade manufacturer LM Wind Power told the Arkansas Democrat-Gazette on Thursday that it will cut 234 jobs -- more than half its Little Rock workforce -- over the next few months.
In a story for its Friday newspaper, the Democrat-Gazette said the company will lay off 80 hourly employees, 14 salaried employees and 140 temporary workers.
In the article, the company attributed the layoffs to a decrease in demand for its products as Congress fails to renew a federal production tax credit that expires Dec. 31.
LM Wind Power, once known as LM Glasfiber, announced in July 2007 that it would put its $150 million North American headquarters at the Port of Little Rock. The plant makes fiberglass wind turbine blades. At one point, it projected employment in central Arkansas to reach 1,000 by 2012.
News about the LM layoffs comes the same week that another major Little Rock employer, Hawker Beechcraft of Wichita, Kan., told employees that it would lay off 170 people at its 247,500-SF operation at Adams Field.
That company, which finishes out its line of private jets at four hangars at the Bill and Hillary Clinton National Airport, employs 450 people, according to Arkansas Business' annual list of the state's largest aerospace companies, last published in April. Hawker Beechcraft placed third on the list, which is ranked by number of employees.
Welspun Tubular of Little Rock, Alliance Rubber of Hot Springs, Tyson Foods of Springdale and Conway Machine were the four Arkansas companies recognized Wednesday at the 2013 Governor's Award for Excellence in Global Trade.
University of Arkansas startup HomeDx won the elevator pitch portion and finished second overall in the graduate-level division of the 2013 Donald W. Reynolds Tri-State Governor's Cup business-plan competition Tuesday in Las Vegas.
Wal-Mart Stores Inc. of Bentonville is making a push to sell more U.S.-made goods and part of that effort includes promoting products made in Arkansas.
Northwest Technical Institute in Springdale has more prospective students than spots in its diesel and truck technology program. A future expansion in lab space could help the school, located in an area known nationally for its diesel tech jobs.