Precision Castparts ‘significantly’ cuts Oregon workforce, blames coronavirus downturn
Published 1:02 pm Wednesday, April 22, 2020
- Precision Castparts makes large metal components for Boeing airplanes and other industrial products.
Precision Castparts, one of Oregon’s largest manufacturers, said Wednesday it will “significantly” cut its workforce because of falling demand during the coronavirus outbreak.
The Portland company told employees earlier this month that it would furlough workers at its large parts campus in Southeast Portland from April 20 until May 3. Employees say the company now plans to close that site indefinitely, along with its small structures business operations plant in Clackamas.
“As the impact of the pandemic and other macroeconomic factors have weighed on the nation, many of our customers have or intend to curtail or reduce their production,” Communications Director David Dugan wrote in an email. “Due to the resulting impact on orders, we have significantly reduced our workforce to align our production with our customers’ needs.”
Dugan didn’t say how many employees will lose their jobs, but workers say the layoffs top 200 altogether. It’s not clear whether similar changes are underway elsewhere at the company.
Precision Castparts has historically employed more than 30,000 worldwide, including 3,000 in Oregon. It has a titanium casting plant in Redmond, known as PCC Schlosser.
The company makes large metal components for Boeing airplanes and other industrial products. It sold to Berkshire Hathaway, Warren Buffett’s investment firm, for $37 billion in 2016.
Oregon shed more than 300,000 jobs in the first four weeks of the state’s coronavirus crisis, with layoffs concentrated in the hospitality field. While most factories have continued operating, large manufacturers including railcar maker Gunderson and Evraz Steel have cut jobs during the outbreak.