LM Glasfiber Cuts 80 Jobs

LM Glasfiber Cuts 80 Jobs
The crisis in the credit markets and the slow economy are the reasons given for LM Glasfiber's manufacturing lay-offs in Little Rock

LM Glasfiber of Denmark is cutting production at its Little Rock wind turbine manufacturing plant, resulting in 80 layoffs, according to a company release issued Monday. The cuts come as orders have slowed due to the economy.

The company will now employ about 300 in Little Rock. The company runs a plant at the Little Rock Port Authority. The port facility will begin operating 24 hours a day, five days a week beginning in about 60 days, according to the release.

"We continue to see the timing of domestic wind projects being pushed back due to the credit markets and world economic conditions," the company's vice president and general manager for North America wrote in a release. "While the outlook for the future of sustainable wind energy is very bright, the short-term impact requires us to eliminate the weekend shift at our Little Rock Port facility. We are optimistic about an expected upswing in 2010 and 2011."

The company cut about 150 jobs in January. The company held the Little Rock plant's grand opening in October and began building in summer 2007.