ITW Heartland closes one segmentLast Wednesday, ITW Heartland in Alexandria announced to a group of approximately 30 employees that ITW corporate had made the decision to close the Strategic Assembly Solutions business segment.
Last Wednesday, ITW Heartland in Alexandria announced to a group of approximately 30 employees that ITW corporate had made the decision to close the Strategic Assembly Solutions business segment.
Several of the markets/customers served by that segment have made decisions to pull work back into their companies as they fight for margins, and that coupled with other standard business challenges have proven to be insurmountable, according to the company.
ITW Heartland will continue to build its business in its other two business segments where approximately 80 people will continue to be employed.
The two segments that will continue are Manufactured Products, servicing the close tolerance machining market, and Spiroid, servicing the specialty gearing market.
Both of those businesses are doing well, but the company stated “that the closing of one of our groups and the impact on our friends and co-workers are extremely difficult.”
The company also noted, “We have many wonderful people that will be looking for work between now and the end of the year.” Employees will be leaving as the current work available comes to an end.
ITW said it provided a generous separation/severance package that each of the impacted employees are eligible for.
In addition to making outplacement services available; ITW Heartland plans to organize a miniature “job fair” where information will be shared with other companies about the skill sets and job descriptions that the affected employees possess, in order for everyone to connect with future opportunities.
Impacted employees will be given time off to meet with these companies when the event takes place at ITW Heartland.