KraftMaid cuts 400 jobs in Ohio
KraftMaid cabinets has cut approximately 400 jobs at factories in the state of Ohio because of the downturn in the housing market, according to a report by the Associated Press. The division of Masco cut work force at cabinet plants in Middlefield and Orwell, Ohio.
Aspokesperson told the news service that the plants could be reopened if the housing market improves.
In its first-quarter earnings statement in April, Masco reported net income fell to $2 million from $143 million in the same period last year. Masco’s companies include Delta Faucet, KraftMaid cabinets and Behr paints.
Net sales fell 13 percent to $2.45 billion from $2.8 billion in the same period last year.