Tags: Rexnord | Indianapolis | job cuts | industrials

Rexnord Fires 350 Employees to Move High-Paying Jobs to Mexico

Rexnord Fires 350 Employees to Move High-Paying Jobs to Mexico

(Dreamstime)

By    |   Monday, 17 October 2016 10:42 AM

Rexnord Corp., a Milkwaukee-based maker of factory equipment, last week fired 350 employees in Indiana as part of a plan to move operations to Mexico.

Union officials learned of the job cuts on Friday before the company cleared its factory and sent everyone home, the Indianapolis Star reported.

“Rexnord is at least the third manufacturer this year to signal plans to shift operations from Indiana to Mexico,” according to the newspaper. “The company's decision comes eight months after Carrier Corp. said it would shutter its Indianapolis operations by 2019, resulting in 1,400 layoffs. Huntington-based United Technologies Electronic Controls is planning to lay off 700 Indiana workers by 2018 and relocate to Mexico.”

Rexnord has a market value of $1.97 billion and employs about 7,700 people. Its stock has risen 5.9 percent this year to about $19.18 a share.

“We understand, recognize and respect that in these circumstances discussion and openness with the Steelworkers Union is an important step,” Rexnord said in a statement. “We have invited the Union to join us in an open and frank discussion over this potential relocation and the impact it would have on Rexnord associates and their families.”

The Rexnord plant paid higher wages than Carrier, Kelly Hugunin, the local union representative for United Steelworkers Local 1999, told the Indianapolis Star. The average wage at the Rexnord plant is about $25 an hour, Hugunin said. Carrier employees earn between $14 and $25 per hour.


 

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Rexnord Corp., a Milkwaukee-based maker of factory equipment, last week fired 350 employees in Indiana as part of a plan to move operations to Mexico.
Rexnord, Indianapolis, job cuts, industrials
241
2016-42-17
Monday, 17 October 2016 10:42 AM
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