BRIEF: Ladish to cut 70 as sales continue to lag

Sat. July 18, 2009; Posted: 02:08 AM

Jul 18, 2009 (Milwaukee Journal Sentinel - McClatchy-Tribune Information Services via COMTEX) -- LDSH | Quote | Chart | News | PowerRating -- Ladish Co. will lay off about 70 production workers at its Cudahy factory, probably within the next two weeks.

The maker of forged and cast-metal parts for the jet engine, aerospace and general industrial markets has seen demand erode with the recession. Wayne E. Larsen, vice president for law and finance, said Friday that Ladish has already taken other steps, including a one-week furlough without pay for everyone, earlier this year.

"It's just gotten to the point where we'd pretty much run out of every (other cost-cutting) opportunity we had," he said.

Larsen said management notified Ladish's unions Monday of the plans. The company doesn't know how long the layoffs will last, he said. Ladish has about 850 employees in Cudahy.

In the quarter ending March 31, the firm earned $1.2 million on $105.7 million in sales, compared with earnings of $6.0 million on $117.2 million in sales for the first quarter of 2008.

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