Springfield, Missouri-based Timken Belts, a manufacturer of industrial power transmission belts, has announced the closure of its manufacturing plant and operational headquarters in Springfield, Missouri, following its parent company's sale of its belt business to the Denver, Colorado-based Gates Industrial Corporation.
The closure will impact 280 employees, with layoffs commencing in August 2026 and completed by December 31, 2026, followed by the permanent closure of the facility, which was not included in the asset sale. This follows the loss of 96 employees at the beginning of 2025.
According to a company spokesperson, "The facility will be closed after a wind-down period following the closing of the deal with Gates. We recognize this is difficult news for our Springfield team and the community. We are working with impacted employees to support them through this transition. Chief Executive Officer Lucian Boldea added, I want to thank our dedicated belts colleagues for their contributions over the years.”
Change is constant, and it's coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?