St. Louis, Missouri-based Pretium Packaging, a full-service designer and manufacturer of rigid packaging solutions for specialized applications with small to mid-sized production volumes, has announced the closure of five plants following its acquisition of Overland, Missouri-based Alpha Packaging.
The restructuring will impact hundreds of employees, including 73 employees in Hermann, Missouri, 53 employees in Ypsilanti, Michigan, 45 employees in Winona, Minnesota, 101 employees in Anaheim, California, and 45 employees in Escondito, California.
According to a company spokesperson, "The reason the five plants were closed was “purely economics. The plants that we closed were still what I would call profitable, but they were struggling. They’re small with fixed overhead at these facilities and just don’t have enough volume to cover those fixed costs. Making a very large acquisition, like acquiring Alpha, gave Pretium an opportunity to review operations. It’s something we look at all the time, but we don’t take it lightly because it impacts people."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?