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  • b2evolution

Coe Newnes McGehee lets 100 employees go

Permalink 09/05/08 @ 11:27:32 am, by Admin Email
Categories: Mill Closures & Layoffs

The forestry high-tech equipment manufacturer, Coe Newnes McGehee, let 105 employees go yesterday in Salmon Arm. There were no vacation pay outs or severance packages. The company simply had no money to pay out.

The remaining 215 employees will continue to work while the future of the company is unknown.

On April 30th, Coe Newnes McGehee was granted creditor protection under the Companies’ Creditors Arrangement Act.

Video coverage: Bad news at Newnes - Video (CHBC News)

PermalinkPermalink • 1 comment

Comments:

Comment from: Robert [Visitor] Email
Now they are for sale. On May 8th the BC Supreme Court granted an order that they be put up for immediate sale. Only the assets are for sale meaning that the remaining employees are mostly likely out of a job shortly as well.

Sad.
PermalinkPermalink 10/05/08 @ 23:38

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