NewPage to furlough 120 to save costs
The Ohio-based NewPage Corp. plans to furlough 120 hourly maintenance workers for a week as a cost-saving measure at its Rumford paper mill.
The Sun Journal reported all salaried workers will continue to work from June 17 to June 24.
Anthony Lyons, spokesman for the mill, told the paper the furloughs are a "cost-containment and money-saving" measure.
The company, which employs around 850 hourly and salaried workers in Rumford, laid off 45 people in February. Those layoffs were part of a company-wide cut of 300 employees at NewPage operations across the country, which company officials said were a result of declining demand for its paper.
The company emerged from a Chapter 11 financial restructuring in December after securing a $500 million term loan from Goldman Sachs Lending Partners LLC and $350 million in revolving credit led by J.P. Morgan Stanley Securities LLC.
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