Columbus McKinnon Closes Plants, Lays Off 10%

Industrial manufacturer Columbus McKinnon will close down two factories and reduce capacity at a third, resulting in the layoffs of 10% of its workforce.

Last quarter, the firm reduced operating headcount by more than 20%; instituted executive pay cuts; and suspended its 401(k) matching plan.

Based in Amherst, New York, Columbus McKinnon manufactures hoists, trolley and jib cranes, clamps, rigging, chain, and associated parts.