WATERFORD, N.Y. (AP) -- An Albany-area chemical manufacturer is cutting the pay of 400 hourly workers by 25 percent and temporarily laying off 225 of them for periods ranging from two days to two weeks.
Managers at Momentive Performance Materials in Waterford -- a GE spinoff that makes silicon products -- say the company has been hit by the slowdown in the automotive, construction, textiles and furniture markets.
The company says base pay for hourly production workers ranges from $50,000 to $65,000 a year. The new pay structure will range from $30,000 to $70,000.
About 20 employees will get pay increases averaging 9 percent, while 200 will see no change.
Representatives of the union that represents 600 plant workers say they'll challenge the pay cuts.
