Tenneco, one of Northeast Arkansas’ largest manufacturers, has announced the closure of its Paragould facility after 50 years of operation. With a workforce of around 1,100 employees, the company cited a decrease in market share and challenging global economic conditions as reasons for the closure. The layoffs will be staggered, with the first phase scheduled for Mar. 31, followed by additional phases in mid-April.
In a released statement, Tenneco expressed regret for the decision and emphasized their commitment to providing transition assistance for affected employees. The company stated that the closure was necessary to realign their manufacturing operations to better respond to changing market conditions and ensure long-term sustainability.
Tenneco, headquartered in Chicago, specializes in manufacturing shock absorbers, struts, and other auto parts. The closure of the Paragould facility will have a significant impact on the local economy and community. The company’s decision comes amidst a challenging economic environment, with many businesses reassessing their operations to remain competitive.
The closure of the Paragould facility serves as a reminder of the ongoing challenges facing the manufacturing industry in Arkansas and highlights the need for businesses to adapt to changing market conditions. As Tenneco adjusts its manufacturing footprint, the company’s focus remains on maintaining its long-term viability in the face of evolving industry trends.
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