MetalTek International laid off 60 employees on Nov. 12 at its Wisconsin Centrifugal Division located in Waukesha. Those employees, which consisted of shop and office employees, equated to 13 percent of the company’s Waukesha workforce, according to human resources manager Dave Harris.
A company statement said the layoffs are due to a reduced demand for products and a broad softness in industrial markets driven by low oil prices, unfavorable exchange rates, and a declining Chinese economy.
MetalTek does not know how long the layoff might last, but is hopeful that the laid-off employees can be called back as market conditions improve.
The Wisconsin Centrifugal Division now has 412 employees. Harris said the Waukesha-based MetalTek has more than a thousand employees worldwide.
Serving customers in more than 35 countries, MetalTek is a supplier of alloy components for high-temperature, wear, and corrosion environments and high-compliance industries.
