Eastman Chemical Begins Layoffs, Cuts Salaries

As we reported, Eastman Chemical Company is beginning permanent layoffs.

This week, workers at Eastman’s Kingsport, Tennessee plant, one of the region’s largest employers, will receive notices informing them of their severance. An estimated 200 of 7,000 employees will be cut.

The Kingsport plant was founded in 1920.

The targeted positions include technicians, technologists and management, among others. Jobs such as electricians, mechanics and operators will not be part of the layoffs.

Those fired this week will receive severance packages, which include two weeks of pay for each year of service up to 52 weeks; four months of continued medical benefits and outplacement services.

On March 30th, all Eastman employees in the United States had their pay reduced by 5%.