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Biddeford-based Flotation Technologies has laid off 40 workers as the company that manufactures flotation devices for offshore drilling and marine-related industries plans to close.
The Bangor Daily News reported company officials declined to comment on the layoffs and closure detailed in a filing with the Maine Department of Labor requesting job retraining services for the 40 workers. Julie Rabinowitz, a spokeswoman for the DOL, told the paper that the entire business will be closing.
Just five years ago, Inc. magazine identified the company as the 27th fastest-growing manufacturer in the country. It then had 80 workers and $13.4 million in revenue.
The petition for job retraining attributed the layoffs to foreign competition and “overcapacity in the marketplace,” the paper reported.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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