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PGT undertakes another restructuring

Post Time:Jan 14,2009Classify:Industry NewsView:195

PGT Inc. reduced its work force by about 10 percent as the company restructures to weather economic troubles caused by the failing housing industry.

The company, based in North Venice, also restructured last March and in October 2007.

In a statement, Rod Hershberger, president and chief executive officer, described the restructuring as “essential” for the long-term health of the company.

Combined with the previous downsizings, PGT has reduced its work force by 40 percent since its peak in September 2006, [a] release said.

Through this restructuring and other steps taken to cut costs, PGT expects to realize annualized savings of more than $6 million, according to a Jan. 13 report in the Tampa Bay Business Journal.

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Source: http://www.glassmagazine.com/news-item/commercial/pgt-undertakes-another-restructuringAuthor:

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