Weyerhaeuser Cutting 300 Jobs

Federal Way, Washington-based Weyerhaeuser reported today a wider Q4 loss and announced further job cuts.

The forest-products company’s net loss widened to more than $1.21 billion, or $5.73 a share, from a loss of $63 million, or 30¢ a share, in the 2007 Q4.

The company has shut down indefinitely its veneer and lumber mills in Pine Hill, Alabama, affecting about 300 employees.

On January 26th, Weyerhaeuser announced the closing of two mills in Washington, resulting in a reduction of 221 employees.