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Stock impact report

Charlotte-based JELD-WEN announces 11% workforce cut [Yahoo! Finance]

JELD-WEN Holding, Inc. (JELD) 
Last jeld-wen holding, inc. earnings: 2/18 06:00 am Check Earnings Report
US:NYSE Investor Relations: investors.jeld-wen.com
Company Research Source: Yahoo! Finance
The layoffs represent an 11% reduction in JELD-WEN's North American and corporate workforce. The company employs about 16,000 people across North America and Europe, and it is unclear where or when these job cuts will occur, according to the Charlotte Observer Action 9: IRS text scam targets taxpayers In a news release, CEO William Christensen stated that the company is facing ‘persistent market headwinds and price-cost pressures,' which have contributed to the financial losses. This is the second round of layoffs for JELD-WEN this year. In March, the company closed a factory in Iowa, resulting in 298 job losses. Last year, the manufacturer also made significant cuts, including the closure of two manufacturing plants in California and Wisconsin, impacting 450 jobs. JELD-WEN's third-quarter report highlighted a 13.4% decrease in net revenues compared to the previous year, with North American operations experiencing a 19.4% decline. The company also faces a $45 million an Show less Read more
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