The shutdown is expected to trigger between $4 million and $6 million in severance packages and associated one-time costs. This decision follows a comprehensive internal audit of the company’s manufacturing network, aimed at rightsizing output to match current industry requirements.
Chief Executive Jason Ringblom stated that the reduction is a necessary step to maintain operational efficiency throughout the current business cycle. By idling the Jasper site, the company preserves its ability to scale production back up should the housing and construction markets recover in the coming months.
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