Louisiana-Pacific has whittled away at its workforce by 14% in an announcement of layoffs that affect about 200 people. It hardly stops there, so the fixed income investors can join in on the pain they cut their dividend. Additionally, they are reducing capital expenditures, which means less love to the IT services and suppliers businesses to feed yet more vicious cycles.
In lumber and just now waking up and recognising that building has been overbuilt and pushed up ahead of demand for at least 5 years is quite a bit short-sighted. Tennessee just seems to keep getting a placement on this blog. Things must be fairly bleak out there.
Louisiana-Pacific is not headquartered in Louisiana, they are headquartered in Nashville, Tennessee.
Related:
Drifting Away: Brunswick to Consolidate Production = Layoffs
Rust Belt, a Little Rustier: Eastman Chemical Co. Cuts Jobs
Put Your Hammer to Rest: USG Corp Bangs Out Layoffs
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