New Jobs for Memphis
Thomas & Betts to move Fla. jobs to Memphis
taken from Memphis Business Journal
Thomas & Betts Corp. will move about 38 jobs from Homac Manufacturing Co. in Ormond Beach, Fla., to Memphis, according to The Daytona Beach News-Journal.
Those jobs represent 7.6 percent of the Homac’s workforce at two local plants there. The jobs include customer service and research and development functions which will be brought to Memphis. Layoffs at the Ormond Beach facility began Thursday and will be complete by June, according to the newspaper.
A Thomas & Betts (NYSE: TNB) spokesman said employees who decide not to relocate would get a severance package, but did not elaborate, according to the newspaper.
Thomas & Betts bought Homac in January for $75 million. Homac, a privately held manufacturer of components used in utility distribution, substation, industrial and telecommunications markets, had 2007 sales of about $65 million.
Thomas & Betts (NYSE: TNB), which is based in Memphis, is a designer and manufacturer of electrical connectors and components used in industrial, commercial, communications and utility markets.