NewPage layoffs to hit nearly 45 Maine workers
Close to 45 workers at a Rumford paper mill will be laid off as the Ohio-based NewPage plans to lay off 300 workers nationwide.
The Sun Journal reported that workers were told Tuesday that layoffs at the company would begin later this month. A spokesman told the paper those cuts would continue through April for the Rumford mill that employed around 700 people at the end of 2012.
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.
At the time of the restructuring, the company said the move protected 6,000 jobs at its mills in Kentucky, Maryland, Michigan, Minnesota and Wisconsin.
A NewPage spokesman in Wisconsin told TV station WQOW that declining demand for paper is a cause for the layoffs.
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