SHERBROOKE, QUE - According to the Toronto Star, residential furniture manufacturer Shermag Inc. is scheduled to lay off 90 workers at a factory in Disraeli, QUE, due to an ?excess capacity? as a result of its restructuring. The temporary layoffs, announced Aug. 14, will take effect on Oct. 9. Shermag announced in June that it will accelerate production in Asia after the strong Canadian dollar and other domestic issues produced a $22.7 million loss in its fourth quarter. Read more.
Shermag Announces Layoffs
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SHERBROOKE, QUE - According to the Toronto Star, residential furniture manufacturer Shermag Inc. is scheduled to lay off 90 workers at a factory in Disraeli, QUE, due to an ?excess capacity? as a result of its restructuring. The temporary layoffs, announced Aug. 14, will take effect on Oct. 9. Shermag announced in June that it will accelerate production in Asia after the strong Canadian dollar and other domestic issues produced a $22.7 million loss in its fourth quarter. Read more.
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