Rea Magnet to Lay Off 85

Rea Magnet Wire will lay off 85 workers in two months.

Fort Wayne, Indiana’s Rea, one of the world’s largest manufacturers of magnet and nonferrous wire products, employs about 1,000 worldwide and 300 locally.

Rea produces copper, aluminum and brass insulated magnet wire and bare wire used in motors, transformers and coils. Rea also makes specialty wire products.

The company will stop all manufacturing at its Fort Wayne location but will keep its headquarters there.