Saturday, March 19, 2016

"20 positions cut at former Lorillard plant"; It's just the beginning

"ITG Brands has eliminated about 20 salaried positions from its Greensboro operations.

...Imperial acquired the operation as part of last year's $27.4 billion merger between Lorillard and Winston-Salem-based Reynolds American Inc. Reynolds acquired Newport, the No. 1 menthol cigarette brand, as part of the deal.

ITG is cutting the positions due to the end of a contract manufacturing agreement between Reynolds and ITG. ITG has been making Newport cigarettes at the Greensboro plant for Reynolds. But the manufacturing of that brand will be substantially transferred to Reynolds' Tobaccoville facility by June. When that happens, production levels at the Greensboro plant will decline."

What will be the impact on Greensboro and Guilford County tax revenues?

Our elected leaders on City Council couldn't be any more uninformed,
and if so, they don't give a shit, or they are just going to plow on spending money they won't have
on discretionary projects we don't need, 
to be paid for with ever higher tax rates

Tony Wilkins must be financially illiterate,
or so swept up with the love of power purchased with our local oligarch's money
to even inquire, much less object of the rest of council's excessive spending plans

The rest appear to just doing what they do on purpose,
as there are no limits to how much they will borrow and spend to keep up appearances

Monday, February 22, 2016; 7/15/14 Lorillard Flashback; Reynolds Lorillard; Greensboro loses another corporate headquarters, and most likely a bunch of jobs

Expect Layoffs; "Ralph Lauren to review ops after weak sales", Linked In and links

Coming soon to North Carolina towns near you