Hundreds of people will be losing their jobs in Tillsonburg, after a major international company announced the closure of a factory manufacturing wind turbine blades.
Siemens Wind Power Ltd. has announced the factory that employed 340 workers is not large enough to build the sorts of bigger turbine blades the company needs to stay competitive in an increasingly challenging market.
Although the factory won’t be fully closed until early 2018, the majority of staff will feel the effects right away
Siemens says 206 staff are out of work effective immediately, with the rest being phased out over the rest of the year.
The company says it will provide career counselling and job placement support for all employees.
Siemens described the decision as a difficult one, but said the plant was simply not viable given drastic shifts in the demands and profitability of the industry.