Glass Industry News

Libbey takes further cost cutting measures

, Libbey

Tableware manufacturer Libbey has implemented further cost cutting measures across its business as a result of the Covid-19 pandemic.

[rimg01]The shutdown of production at its US glassmaking plants and retail stores has been extended into May.

Operations at its Mexican manufacturing plant have also been reduced.

It has also temporarily furloughed a portion of its US manufacturing and distribution staff as well as implemented a pay reduction for its US and Canadian staff.

This includes a 25% base salary reduction for CEO Michael Bauer, 20% base salary reductions for executive officers and other vice presidents, and 10% to 15% salary reductions for all other impacted associates.

Mike Bauer, chief executive officer of Libbey, said: "We believe the actions we are announcing today, in addition to the previously announced changes to our U.S. operations, are necessary to help ensure the strength of our business over the long-term."

It also said it had taken ‘significant measures across its locations in EMEA and China in line with local government regulations and the resulting downtrend to demand for its products’.

, © Libbey

Notícias sobre o material do site é copyright e pertence à empresa ou ao seu fornecedor de terceiros notícia, e todos os direitos reservados. Qualquer usuário que acessa esse material poderá fazê-lo apenas para seu próprio uso pessoal, bem como a utilização desse material é de risco exclusivo do Utilizador. A redistribuição ou exploração comercial de material tal notícia é expressamente proibida. Se tal notícia material é fornecido por um terceiro, cada utilizador concorda em observar e estar vinculado aos termos específicos de utilização aplicáveis a material notícia. Nós não representamos nem endossamos a precisão ou confiabilidade de qualquer informação contida em qualquer notícia ou sites externos referidos na notícia.

Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.



Info Grid

Glass studies

Updated worldwide glass study 2024

plants.glassglobal.com

Updated hollow glass study 2024

Request more information

Updated float glass study 2024

Request more information

Further glass market studies

Request more information

Perfil da Empresa



Updated worldwide glass market study 2024 available now for flat, container glass and tableware

We have updated our international studies on flat glass, container glass and tableware for 2024.

This unique software provides a global overview about glass producers and technical details. Easy to use and clear tables summarize information and data about glass makers such as: Glass types: flat glass, container glass, tableware, production capacities in regions and countries, number of furnaces, furnace types, year of construction, glass types and sub-types, products, project information, special news and downloads.

Further databases supplying demoscopic data and import and export data complete the market survey. Based on these data, prepare individual country profiles with information about local production capacities, local market sizes and expected demand in the future.

Request your offer via plants.glassglobal.com.

Updated container glass study 2024

X

Updated float glass study 2024

X

Further glass studies and reports 2024

X