Virco To Offer Buyouts, Early Retirement
CONWAY, Ark. (AP) — Virco Manufacturing Co. in Conway says it plans to offer buyouts and early retirement to total of 115 employees.
The company makes furniture for schools and has operated in Conway since 1950. Virco told the Log Cabin Democrat (http://bit.ly/rrPvMu) on Thursday that the slow economy has slowed the pace of new orders and it has to reduce its workforce.
The Conway factory has about 500 employees.
Virco Vice President Doug Virtue says workers near retirement will be offered early retirement. Workers who want to find another job will be offered a buyout package.
The company says the move will also affect 30 workers at a plant in Torrance, Calif.