Genie Industries Cuts 375 Jobs

Aerial lift maker laid off more workers in the second round of job cuts in less than four months, citing it has been hurt by the global economic slowdown and near-freeze in the credit markets.

REDMOND, Wash. (AP) -- Genie Industries has laid off another 375 employees in the second round of job cuts in less than four months.

The company, which makes aerial lifts, platforms and light towers, said Wednesday that it was being hurt by the global economic slowdown and the near-freeze in the credit markets. That has limited its customers' ability to order new equipment.

Genie said the cuts represent about 18 percent of its work force in Redmond, which had about 2,400 production and office workers. It also has cut about 100 jobs at its Moses Lake plant, where it had about 650 employees.

In July, Genie's parent company, Terex Corp., laid off 120 full-time workers and an undisclosed number of part-time workers in its aerial platforms division. Terex didn't say then how many of those layoffs were at Genie.

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