But hey, it's only 70 jobs right? Right?
North Charleston tool company announces layoffs
A little bit here, a little bit there...
CHARLESTON, S.C. - A company that makes hand tools says it will layoff 70 workers by the end of 2006 and move what's left of the business, officials said.
L.S. Starrett Hardware president Jack Evans said Tuesday the company needed to find lower labor costs and lower overhead to compete with products coming from China.
"We just can't do that with the overhead and manufacturing costs we have," Evans said. "We call it outsourcing or offshoring. What it means is looking for a way to survive."
The layoffs will reduce the company's local payroll by nearly half to 80, he said. Less than three years ago, Starrett employed more than 250 workers in North Charleston.
The company will likely move the work to the Dominican Republic, where parent company, Athol, Mass.-based tool maker L.S. Starrett Co., has already transferred other operations there to cut costs.