The press release from the Hanesbrands website:
“WINSTON-SALEM, N.C. (March 29, 2007) – Hanesbrands Inc. (NYSE:HBI) announced today that it will close its Stratford Road textile manufacturing plant in Winston-Salem and move production to existing lower-cost plants in the Caribbean basin and Central America.”
“Production at the Stratford Road plant, which makes underwear and panty fabric, will substantially end by June 30, 2007. The plant’s print fabric operation, which employs fewer than 20, is expected to cease production by the end of the year. In total, the closure will eliminate positions for the plant’s current 610 employees.”
“The company will provide severance benefits and career transition assistance to employees and will apply to the federal government for U.S. Trade Adjustment Act assistance for affected employees. Also, affected employees will be allowed to seek open positions at the company’s other manufacturing and distribution operations in the Winston-Salem area.”
The Triad, once the heart of the textile industry, has seen textiles leave the area for years. The local, county and state governments have responded by coming together and presenting to businesses incentive packages that have attracted quality jobs to that area. Their development efforts is a model that other agencies, from across the country, have tried to emulate.
If anyone has some details of their severance package, please leave a comment.