WAVERLY, Iowa (AP) — A northeast Iowa crane manufacturer is laying off dozens of workers due to a drop in demand for its product.
Terex Cranes announced Friday it would drop to one shift a day and lay off 54 people.
The Waterloo-Cedar Falls Courier reports (http://bit.ly/1c9YSzS ) the Westport, Conn.-based company blamed the market for cranes.
Tom Gelston, Terex’s vice president of investor relations, says in a statement that the company made the cuts “to realign it with the softened demand environment we are experiencing today with our mobile crane products.”
City Administrator Phil Jones says city officials were notified of the layoffs Friday afternoon.
Jones says they hope the layoffs will be temporary.
Iowa Workforce Development will host an information meeting Tuesday in Waverly for those who have lost their jobs.