Textile manufacturer Milliken & Co. will lay off 650 employees, or 6.5 percent of its workforce, across its 47 locations worldwide. A spokesman from the company said it did everything it could to prevent layoffs. Voluntary retirement packages will be offered to employees in eligible management positions, and other positions will be consolidated, affecting fewer than 100 employees.
Milliken is a privately held company with about 10,000 employees worldwide. It attributes this restructuring to the recent economic conditions.