Stanley to cut 530 Henry Co. positions530 families' lives destroyed. 530 families to go on the Obama relief program.
By Duncan Adams, Roanoke Times
Economically besieged Martinsville and Henry County reeled again Wednesday in response to Stanley Furniture Co.'s announcement that it will cease all furniture production in Virginia and discharge some 530 workers before year's end.
Stanley plans to move its adult furniture production lines from Virginia to factories in Southeast Asia. Its Young America nursery and youth product furniture line will continue to be manufactured in North Carolina.
The job cuts will be "permanent but not immediate," said Glenn Prillaman, Stanley's president and CEO.
Employees heard the news about 4 p.m. Wednesday. The company anticipates it will continue to employ about 220 in Henry County after the first of the year.
Most of the 530 jobs will disappear between October and December, Prillaman said. [link]
You people want to "stimulate" something? How about stimulating capitalism in this country before we're all in the poor house.