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KraftMaid cuts 400 jobs in Ohio
Source:
Home Channel News
(Jun. 4) KraftMaid cabinets has cut approximately 400 jobs at factories
in the state of Ohio because of the downturn in the housing market, according to
a report by the Associated Press. The division of Masco cut work force at cabinet
plants in Middlefield and Orwell, Ohio.
A spokesperson told the news service that the plants could be reopened if the housing
market improves.
In its first-quarter earnings statement in April, Masco reported net income fell
to $2 million from $143 million in the same period last year. Masco's companies
include Delta Faucet, KraftMaid cabinets and Behr paints.
Net sales fell 13 percent to $2.45 billion from $2.8 billion in the same period
last year.
